Shiba-Inu (SHIBUSD) Price Forecast: August 7
SHIBUSD price is good to long at the above-mentioned price level. The coin will most likely continue its bullish run and could still go higher if bulls are able to further break up the $0.00001449 previous barrier, then we can expect a good upside momentum up to a $0.00001600 supply value.
Key Levels:
Resistance Levels: $0.00001200, $0.00001300, $0.00001400
Support Levels: $0.00000800, $0.00000700, $0.00000900
SHIB (USD) Long-term Trend: Bullish (Daily Chart)
SHIBUSD pair displays a high momentum bullish rally in its long-term outlook. Prices are traded above the resistance channel. This is another opportunity to buy Shiba Inu and a turnaround for the buy investors.
The cryptocurrency price has been above supply trend levels since its most recent high due to the persistent bullish pressure over the last few days.
More concern about the crypto market by the long investors has pushed the price up to a $0.00001050 high value above the moving averages after the commencement of the daily chart today. The current correction value may likely prolong the bullish rally to break up its previous high of $0.00001449 value if bulls could add more strength to their buying power.
In addition, under the influence of this market level, Shiba-Inu’s price could rise steadily soon and break up the previous high of $0.00001449 level to reach a $0.00001600 resistance level in the coming days.
SHIB (USD) Medium-term Trend: Bullish (4H Chart)
SHIBUSD pair continues in an upward move in its medium-term perspective. Prices are undeniably seen trading above the moving averages facing the upper resistance levels. So, let’s sit back and watch buyers take us higher.
The market price of Shiba-Inu which increases to a $0.00001012 high level above the two EMAs suggests an improved bullish market sentiment. Thus, closing the 4-hourly session above the $0.00001050 previous barrier will put the trade more on the buy side.
Notably, Shiba-Inu price remains in an uptrend as shown by the daily signal pointing up, this suggests a shift in trend soon and this forthcoming development may drive the crypto price further up to a $0.00001600 upper high value soon in its medium-term outlook.
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