Shiba-Inu (SHIBUSD) Price Claims another Bullish Cycle

Shiba-Inu (SHIBUSD) Price Forecast: July 31
The SHIBUSD pair is in an upward move at the moment. Shiba-Inu (SHIBUSD) price claims another bullish cycle. The coin price breaks up another resistance level of $0.00000845, suggesting buyers are hoping to extend the bullish correction rally. Therefore, if the bulls could triple their buying pressure and the coin price closes above the current supply level, the target might be the $0.00001600 resistance value.

Key Levels:
Resistance Levels: $0.00001400, $0.00001500, $0.00001600
Support Levels: $0.00000800, $0.00000700, $0.00000600

SHIB (USD) Long-term Trend: Bullish (Daily Chart)
The momentum on the higher time frame is bullish. The price of Shiba-Inu which is currently trading above the supply levels is due to the high impact of the bulls.

As a result, the coin price has recently broken up the $0.00000817 psychological supply, indicating that buy traders are looking up to continue the recovery pattern. This will enable the price to rise further as the bulls are set to take the coin price further up.

Today, the price is making higher highs and higher lows at the $0.00000845 high level above the moving averages as the daily chart opened today; this implies a gradual weakness in the strength of the sell traders while buyers are becoming more active.
Hence, staying above the supply levels indicates a strong possibility for a bullish correction.

A strong push by the bulls and a break up above the $0.00001590 resistance point would put more strength on the bullish pressure.

Next, there are more bullish runs to come as the market now points upward indicating an uptrend at the present, this suggests that the price of SHIBUSD will still definitely rise further above the current supply level soon and may likely hit the $0.00001600 upper resistance value soon in the long-term outlook.

SHIB (USD) Medium-term Trend: Bullish (4H Chart)
The price of SHIBUSD is in an uptrend as bullish clouds hover above the crypto market in its medium-term perspective.

The coin price can now be seen progressing upward above the moving average lines. This shows that buyers are currently gaining more strength in the market.

In the previous session, the coin price closed above the supply trend lines; this gives the pair more strength to remain on the upside in recent times.

Earlier today, the buy traders added an additional buying pressure and pushed the price of Shiba-Inu up to the $0.00000844 high mark above the moving averages as the 4-hourly session begins. This will however give the buy traders the tendency to further ladder up the trend. Thus, to push the price above the supply zone more buyers’ participation is a prerequisite.

However, there is a possibility of more upsides as shown by the daily stochastic pointing up; it is expected the long traders to continue with the bullish race to a significant level and break above the $0.00000853 previous high which could extend the coin price to hit the $0.00001600 upper trend line soon in the medium-term outlook as we watch the market remains strong above the resistance trend lines.

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