Shiba Inu (SHIBUSD) Price Forecast: August 17
The SHIBUSD pair is at the moment rising against the downtick forces and possibly making its way up after hitting the $0.00001039 mark to signal a pump. Thus, a strong push from the mentioned current price above the $0.00001400 previous high level will further put the crypto in a bullish trend which may extend the price to a $0.00002000 upper high level resulting in intraday gains for the buy traders.
Key Levels:
Resistance Levels: $0.00001100, $0.00001200, $0.00001300
Support Levels: $0.00000800, $0.00000700, $0.00000600
SHIB (USD) Long-term Trend: Bullish (Daily Chart)
SHIBUSD rebounded after its downtick forces. The coin is now finding its way to the overhead resistance level above the two EMAs in its higher time frame. The market shows that the price may now be trading in a new ascending channel.
The bulls have sustained the crypto market at the $0.00001039 supply value on the 12th of August, this has made it possible for the coin to stay above the trend line and remain stronger in its recent high.
The momentum remains in an uptrend despite the push from the short traders, the buying traders made a quick move to a $0.00001039 high mark above the moving averages as the daily chart resumes today. This trend pattern proves the impact of bullishness on crypto.
This fast recovery has recently breached a psychological barrier of $0.00001017 indicating the prices are poised for a higher rally.
In addition, the momentum indicator shows that the price of Shiba Inu will continue rising against the downticks, so we expect the price distribution to reach the $0.00002000 supply level and beyond in the coming days in its long-term-term outlook.
SHIB (USD) Medium-term Trend: Bullish (4H)
The coin price still trades in a bullish market in its medium-term perspective. The bulls acted bravely during yesterday’s session by pushing the price of Shiba Inu to the $0.00001017 high value which enhanced the crypto price to remain strong above the supply trend levels in recent times.
The long traders made a corrective rally up to a $0.00001028 high level above the moving averages shortly after the 4-hourly session opened today. This will enable buyers to influence the price tendency.
A bullish breakout from the $0.00001134 barrier would trigger a significant upswing which would bring higher profits to the coin investors
Likewise, SHIBUSD is showing more upsides possibilities as we can certainly expect more strength from the coin as it is rising against the downticks forces at the moment, as a result, the rising pattern may likely get to a $0.00002000 upper resistance mark in the coming days in its medium-term outlook.
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