Shiba-Inu (SHIBUSD) Price Forecast: April 11
The SHIBUSD pair is bound to face the positive side and gain more strength for another upward move potential soon. If the bulls could exchange hands with the bears and all the current support holds, the coin price might break up the $0.00001590 resistance trend line, which may likely extend to the $0.000020 supply value and beyond.
Key Levels:
Resistance Levels: $0.000014, $0.000015, $0.000016
Support Levels: $0.000011, $0.000010, $0.000009
SHIB (USD) Long-term Trend: Bullish (Daily Chart)
The Shiba-Inu market is having a bearish posture in its long-term outlook as can be seen from the chart below. Meanwhile, it also shows the impeding next big move in the price.
The coin is trading below the two EMAs. However, the market is presently facing resistance at the recent high.
Today, the bulls made an upward move to the $0.00001099 supply value slightly below the two EMAs. A possible breakout from the mentioned supply level will provide a higher float for buyers and prolong the ongoing recovery.
Similarly, the SHIBUSD price may likely continue its journey up north as indicated by the daily stochastic which is pointing in an upward direction. This means that the selling pressure has ended; we can therefore expect the upcoming bullish correction phase to reach a high of $0.000020 value in the days ahead in its higher time frame.
SHIB (USD) Medium-term Trend: Bullish (4H Chart)
The Shiba-Inu pair remains in a bullish trend in its medium-term outlook. The bulls are really trying not to fall this time around. Further, the coin prices are traded above the moving average lines, this confirms a bullish trend.
The coin made it to a high at the $0.000011 high mark during the previous session and sustained it.
The aggressive move by the bulls pushed the SHIBUSD price up to the $0.000010 resistance value above the EMA-9 as the 1-hourly chart opens today. Thus, the bullish correction at the mentioned supply value returns the buy investors to the market for the next increase race.
Hence, the Shiba-Inu market is showing more upside possibilities as shown by the momentum indicator pointing upwards; we can certainly expect more gains and strength from the coin. The pair may likely increase further and the next price recovery target by the bulls might be the $0.000020 resistance value in the days ahead in its medium-term outlook.
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