Shiba Inu (SHIBUSD) Price Forecast: March 17
SHIBUSD pair may likely revisit the $0.00001590 high value soon as the market is oversold already. The coin might possibly experience a bullish reversal price action and price could be ready very soon for another upward move potential. If the forces from buyers in the market should increase and the current support level at $0.0001017 holds, the coin price may possibly turn upside to revisit the $0.00001590 previous high and beyond.
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)
Due to the interaction from the sell traders, the market price of SHIBUSD is in a bearish trend in its long-term outlook. This is due to the high impact from sellers. The high order flow from the bears during yesterday’s session also added to this bearishness. However, the bulls are now set in the market to turnaround the trend.
The bears further made a drop to the $0.00001017 support value below the two EMAs as the daily chart opens today. Thus, should the bulls change their orientation and push higher the coin price may likely reverse and face the upside to retest the $0.00001590 high mark.
Also, possible reversal at the mentioned support is likely as the market now approach the oversold region of the daily stochastic. It indicates that the Shiba- Inu price will soon turn upside, if this is attained by the bulls, the bullish correction phase may possibly retest the $0.00001590 previous high which might further extend to the $0.00002000 upper high mark in the coming days in its long-term outlook.
SHIB (USD) Medium-term Trend: Bearish (4H Chart)
The coin price still trades in a bearish market in its short-term perspective. The price bar can be seen below the two EMAs. 
Sellers acted bravely during yesterday’s session by dumping the price of Shiba-Inu to a $0.00001035 low value below the moving averages with a long bearish candle which made the price to remain below the supply level in its recent low.
However, on the 4-hourly chart today, the bears made a drop to a $0.00001017 support level below the moving averages. Meanwhile, traders who buy the coin during the bearish trend will also make more gains in the future. Thus, should the bulls change their orientation and push higher the coin price may likely reverse and face the upside to retest the $0.00001390 high mark.
Hence, there is a possibility for a price rejection at the $0.00001017 low value as indicated by the daily stochastic which is pointing up in the oversold region. It indicates that the SHIBUSD pair may likely reverse to the upside to resume its uptrend. This will compel the buying pressure to resume fully and the new bullish pattern may possibly hit the $0.00002000 upper high mark in the coming days in its medium-term outlook.
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