Shiba-Inu (SHIBUSD) Price Forecast: March 6
SHIBUSD price is negotiating the upper resistance level as the coin is currently recovering and also remains firm above the supply levels. The crypto might remain in that direction if the bulls could add more efforts to their buying motives and the price closes above the $0.0000279 current supply level, the coin might further extend to a $0.0000300 upper resistance level and beyond, resulting in an intraday gain and a potential buy crypto signal for the coin holders.
Key Levels:
Resistance Levels: $0.0000277, $0.0000278, $0.0000279
Support Levels: $0. 0000199, $0.0000198, $0.0000197
SHIB (USD) Long-term Trend: Bullish (Daily Chart)
SHIBUSD turns positive today. The coin price is negotiating the upper resistance level in the long-term outlook. The price currently trades above the EMA-50 and moves towards the upper resistance area, as can be seen from the chart below. This is due to the high impact of the buy investors in the coin market.
The coin has been having a series of moves by the bulls which has made it possible for the price to remain firm in an uptrend in its recent high.
Today’s daily bullish candle is negotiating the upper resistance level at the $0.0000279 supply value above the moving averages as the daily chart begins. This confirms the bulls’ dominance in the market, which indicates an intraday growth and more gains for buyers.
Notably, the price of Shiba-Inu is approaching the upper resistance zone and this may continue as suggested by the daily signal pointing upwards.
It is therefore expected of buyers to push the crypto price further up to a significant level and in this case, the target might be 0.0000300 upper resistance level as soon as the coin price negotiates the upper resistance level in its higher time frame.
SHIB (USD) Medium-term Trend: Bullish (4H Chart)
Despite the moves by the short traders, the SHIBUSD price is now approaching the upper high level and remains in an uptrend in its medium-term outlook. The price currently trades above the EMA line, which has confirmed its bullishness.
The coin has been making higher highs and higher lows in previous actions; this has made it possible for the price to maintain an uptrend in its recent price level.
Shortly after the commencement of today’s 4-hour chart, the bulls made an aggressive move up to the $0.0000271 resistance level above the EMA-50 approaching the upper resistance level. This bullish breakout will offer the first signal for potential recovery and provide a higher footing to push the bull rally forward.
Hence, the Shiba-Inu price is approaching the upper resistance level and might continue as shown by the daily signal pointing in an upward direction.
Therefore, if the bulls should add more aggression to their activities in the market; the $0.0000300 higher level might be reached as the coin price approaches the upper resistance level in its medium-term time frame.
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