Shiba Inu (SHIBUSD) Price Forecast: August 14
The Shiba Inu price is likely to gain more strength as it changes direction to the upside. The coin is in a position for a bullish continuation pattern as the coin is an ascending channel making higher highs and higher lows at the moment. The coin might possibly swing up and break up its previous high of $0.00001449 level if further bearish pressure is restricted. The bullish correction phase could surge higher to hit the $0.00002000 upper trend line.
Key Levels:
Resistance Levels: $0.00001400, $0.00001500, $0.00001600
Support Levels: $0.00000900, $0.00000800, $0.00000700
SHIB (USD) Long-term Trend: Bullish (Daily Chart)
The long-term market value of Shiba Inu is moving in a bullish direction. The coin price is now strongly trading above the supply levels approaching the upper resistance with huge volumes from the buying team.
During yesterday’s session, the pair reached and held the $0.00001060 resistance level. This has made it possible for the coin to remain in an uptrend in its recent high.
Today’s daily bullish candle at $0.00001134 supply value above the two EMAs confirms the bulls’ dominance in the market as the bulls change direction to the upside. This breakup may possibly accelerate the bullish momentum and extend the ongoing correction to a higher level.
However, with intense buying pressure, the price of SHIBUSD might possibly test the previous resistance level of $0.00001449 and set the potential for further growth.
Having said that, the buying crews are seen clustering around the market as indicated by the daily signal, this means that further upside is certain.
It is therefore expected that the long investors will move the price action up and may likely hit the $0.00002000 supply level soon in its higher time frame.
SHIB (USD) Medium-term Trend: Bullish (4H Chart)
The coin is also displaying a bullish posture in its medium-term outlook. This is due to the high inflow from the long traders. 
The increase in the momentum by the long traders at a $0.00001053 high value during yesterday’s session has enabled the Shiba Inu price to stay strong above the resistance lines in its recent high.
The market price of SHIBUSD which increases from $0.00001066 to the $0.00001079 high level above the moving averages suggests an uptrend in the context of the strength of the market. Thus, closing the 4-hourly session above the $0.00001134 previous swing high will put the trade more on the buying side.
Notably, the pair pointing up on the daily stochastic, means that the buying pressure may continue, and suggests a possible recovery of the $0.00002000 supply level in the coming days in the medium-term perspective.
Buy Shiba Inu on eToro
Leave a Reply