Shiba Inu (SHIBUSD) Price Forecast: March 9
The SHIBUSD pair at the moment is trying hard not to fall by resisting sellers. The coin keeps strong above the supply levels, indicating the bulls are still very intact in the coin market. Based on the outlook, if the bulls’ pressure breaks up the resistance level of $0.0000369, the coin price may increase further to a $0.0000500 high trend line which indeed will be a turnaround for the coin holders.
Key Levels:
Resistance Levels: $0.0000311, $0.0000312, $0.0000313
Support Levels: $0.0000100, $0.0000099, $0.0000098
SHIB (USD) Long-term Trend: Bullish (Daily Chart)
The SHIBUSD pair remains and keeps strong above the supply levels in the higher time frame. This is clear as we can see the prices trading above the moving average lines indicating an uptrend.
However, the previous action by the bulls at the $0.0000369 high level in the past few days has sustained the coin price to keep strong above the trend line in recent times.
The coin price finds reliable resistance at around $0.0000351 level above the EMA-50, resulting in intraday gains. Hence, the crypto has the potential for further growth, if the bulls can add more efforts to their buying motives in the market.
Notably, the Shiba-inu pair shows the continuation of bullish sentiment by pointing up on the daily signal. This means that the coin price will remain and continue to keep stronger above the supply levels and this may push the price of SHIBUSD to a $0.0000500 higher level soon in its long-term view.
SHIB (USD) Medium-term Trend: Bullish (4HChart)
Despite the interference of the short traders, SHIBUSD still keeps strong above the supply levels on the medium-term outlook. The price bar can also be seen above the supply levels indicating a bullish trend.
The high bullish impact on the crypto at the $0.0000319 high level in the previous action has contributed to its bullishness in its recent high.
The price drop to the $0.0000325 low value above the supply levels as the 4-hourly chart opens today, has no serious effect on the coin as the price remains and keeps strong above the supply levels.
Meanwhile, staying above the trend will also give the buy traders the tendency to further ladder up the trend. To push the price above the supply zone more buyers’ participation is a prerequisite.
However, there is a possibility of a further increase in the price of Shiba-Inu, if the buy traders increase their price actions and all the current support level holds, a psychological key level at the $0.0000500 supply level might be reached as soon as the coin keeps strong above the trend levels in its medium-term time frame.
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