Shiba-Inu (SHIBUSD) Price Forecast: October 28
The SHIBUSD pair’s bullish pattern has emerged and the price is now at a possible buy opportunity. The coin may likely increase further, if the bulls could add more strength to their potential buying and the market price sustains above the $0.00001060 high mark, the potential rally could surge above the $0.00001134 higher level to hit the $0.00001200 upper resistance value and beyond.
Key Levels:
Resistance Levels: $0.00000900, $0.00001000, $0.00001100
Support Levels: $0.00000600, $0.00000500, $0.00000400
SHIB (USD) Long-term Trend: Bullish (Daily Chart)
The SHIBUSD pair displays a high momentum bullish rally in its long-term outlook. The chart shows that the coin’s bullish pattern has emerged and now trades above the resistance trend line.
In the previous actions the coin has been having high interference from buyers which really made it easier for the crypto to maintain stable upside moves in its recent high.
The coin’s bullish pattern and price breakout at the $0.00000825 resistance value above the EMA-50 as the daily chart opens today indicates the high buying impact from the bulls resulting in intraday gains.
Moreover, the price pattern warns of prolonged buying with the double bottom forming in the long-term chart.
Based on the outlook, should the bulls go higher and close above the $0.00001134 high mark, a bullish breakout confirmation will reflect the improved market sentiment.
Similar to that, the underlying sentiment suggests a bullish pattern continuation in the coming days as indicated by the daily stochastic. It is expected that buyers to push the price of Shiba Inu further up to a significant level in the upsides and in this case, the target might be the $0.00001200 upper resistance level in the higher time frame.
SHIB (USD) Medium-term Trend: Bullish (4H Chart)
On the medium-term time frame, prices of SHIBUSD bullish pattern are strongly above the moving average and have confirmed a bullish momentum breaking the previous high. The pair is in a smooth uptrend as can be seen from the chart below.
The sustained bullish pressure pushed the currency pair up to the $0.00000792 supply level during yesterday’s session and sustained it. This has made it possible for the coin to remain firm in an uptrend in its recent high.
The coin price rises significantly above the resistance trend lines at the $0.00000812 level as the 4-hour chart begins today. This is due to a high bullish impact on the market price.
Hence, Shiba Inu is showing more upside possibility as indicated by the daily stochastic which is pointing in an upward direction. We can certainly expect more gains and strength from the coin as the bullish pattern continues. The pair may likely reach the $0.00001200 resistance level soon in its medium-term perspective.
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