Shiba Inu (SHIBUSD) Price Forecast: July 14
Shiba-Inu price is slightly in favor of the bulls at the moment. The coin price is set to break up the $0.0000159 supply level as the crypto projects a potential uptrend with the bullish crossover of the 9 and 50-day EMAs. Thus, a sharp breakout and closure above the current correction phase at the $0.00000760 high value will invalidate any bearish thesis and the price might hit the high of $0.0000200 upper level and beyond.
Key Levels:
Resistance Levels: $0.0000120, $0.0000130, $0.0000140
Support Levels: $0.0000090, $0.0000080, $0.0000070
SHIB (USD) Long-term Trend: Bullish (Daily Chart)
Shiba Inu remains bullish on the higher time frames. This is clear as we can see the prices trading above the EMA-9 and moving toward the upper resistance area. This breakout triggers a smooth bull cycle pattern, which in theory, should lead the prices to an overhead trend line.
The sustained pressure from the bulls at the $0.0000078 high level on the 9th of July has contributed to its bullishness in recent times.
The current price of SHIBUSD at the $0.0000076 supply value which is slightly above the EMA-9 suggests that the bulls still remain dominant in the market and a possible buy opportunity is nearby. This will also give the buy traders the motive to influence the price tendency.
Also, there is a high probability of the price going up to its recent swing high, which is $0.0000159 as shown by the daily stochastic which is in an upward direction. The coin market at the buy signal now may likely reach the $0.0000200 supply value soon in its higher time frame.
SHIB (USD) Medium-term Trend: Bullish (4H Chart)
The coin price still trades in a bullish market in its medium-term perspective. The price bar is above the two EMAs which are glued together indicating a bullish momentum.
The bulls acted bravely during yesterday’s session by pushing the price of Shiba Inu to the $0.0000075 high value which enhanced the crypto price to remain strong above the supply trend levels.
SHIBUSD is losing bearish momentum as it rises to the $0.0000075 resistance value above the moving average lines as the 4-hourly chart resumes today. This indicates that traders are actually buying the crypto at the moment and also the bulls remain on top of the market.
Further, the crypto is pointing up on the daily signal, thus, there is a high probability of the coin price breaking up the $0.0000159 recent swing high; this may possibly increase to the $0.0000200 supply mark in the coming days in the medium-term outlook.
Buy Shiba Inu on eToro
Leave a Reply