Shiba Inu (SHIBUSD) Price Forecast: May 22
The SHIBUSD price is positive and shows more jumps ahead. The coin may likely increase further if the bulls could push the price higher and the market price sustains above the $0.00001388 resistance mark, the potential rally could surge above the $0.00001590 previous higher level to hit the $0.00002000 upper resistance value.
Key Levels:
Resistance Levels: $0.00001400, $0.00001500, $0.00001600
Support Levels: $0.000011, $0.000010, $0.000009
SHIB (USD) Long-term Trend: Bearish (Daily Chart)
Shiba Inu is bearish in its long-term outlook. The price responded to the shift in the market structure and is currently trading below the moving averages.
The cryptocurrency price has been below the supply trend levels since its most recent low due to the persistent bearish pressure over the last few days.
The market price of SHIBUSD which increases to a $0.00000878 high level below the two moving averages as a pullback as the 4-hourly session opens today suggests the return of the bulls to the market and improved bullish market sentiment. Thus, closing the daily session above $0.00001590 will put the trade more on the buy side.
An increase in the bullish momentum may break up the $0.00001590 resistance value which may further rise to the overhead resistance.
In a like manner, the underlying sentiment regarding the SHIBUSD market suggests an uptrend continuation in the coming days as indicated by the daily stochastic, this means that more jumps are ahead and in this case, the bullish rally might possibly take us higher to the $0.00002000 supply mark soon in its higher time frame.
SHIB (USD) Medium-term Trend: Bullish (4H Chart)
On the medium-term outlook, the SHIBUSD market still trades in a bullish trend. The price bar can be seen above the EMA-9 with its wick touching the EMA-50, indicating an uptrend.
In the previous actions, the crypto has been having high interference from buyers which really made it easier for the cryptocurrency to maintain stable upside moves.
Earlier today, the coin buyers responded to the market after testing the bottom support and breaking out from the support trend line to a high at the $0.00000878 supply value above the EMA-9; this is an indication of more forces from the buy traders and bullish commitment.
Therefore, if buyers can put more effort into their buying motives in the market, a shift in trend upward will be achieved.
Similarly, more jumps are ahead as the Shiba-Inu price suggests an uptrend on the daily signals which is pointing up in the oversold region. This means that the selling pressure is not likely to continue, as a result, the bulls may likely touch the $0.00002000 high value in the days ahead in its medium-term outlook.
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