Shiba Inu (SHIBUSD) Price Forecast: August 11
The SHIBUSD pair is facing an increase in buying pressure and also remains in a bullish trend. If the buy traders could prove stronger and the coin price shows sustainability above the $0.00001590 previous high value, its upside moves could extend further to reach a $0.00001600 upper resistance value and beyond.
Key Levels:
Resistance Levels: $0.00001000, $0.00001100, $0.00001200
Support Levels: $0.00000900, $0.00000800, $0.00000700
SHIB (USD) Long-term Trend: Bullish (Daily Chart)
Despite the interference of sellers in the price flow, the daily chart market of Shiba Inu shows a bullish race. Price is trading above the supply channel again. This however confirms the presence of a more bullish impact on the currency pair.
The sustained bullish pressure pushed the currency pair up to the $0.00000953 supply level during yesterday’s session and sustained it. This has made it capable for the coin to remain firm in an uptrend in its recent price level.
The momentum continues as the buying traders made a corrective move to a high at the $0.00001005 mark above the two EMAs as the daily chart opened today. This however indicates an uptrend in the momentum of the price of the SHIBUSD and also indicates the high impact of the buying team.
Hence, fresh entries by the long investors toward the higher side are likely as indicated by the momentum indicator pointing in an upward direction; buyers could therefore aim at the psychological level of $0.00001600 upper resistance value in the days ahead as the currency pair maintains its bullish race in its long-term perspective.
SHIB (USD) Medium-term Trend: Bullish (4H)
The SHIBUSD pair portrays a bullish sentiment in its medium-term perspective. Buyers are confident about gaining higher levels and this confirms their high impact in the market at the present. 
The coin price can now be seen progressing upward above the resistance trend lines matching the upper resistance levels. This shows that buyers are currently gaining more strength in the market.
Today, the buying traders made an upward move to a $0.00000997 high mark above the supply trend levels as the 4-hourly chart opens.
The currency pair looks promising as bulls remain dominant in the market at the moment. If the buying pressure should increase, and a bullish momentum is sustained far above the resistance trend lines, further bearish sentiment will be hibernated.
Additionally, the daily stochastic remains in an upward direction. Hence, if the buy traders manage to break above the $0.0001050 previous supply level, the market participants may witness a new recovery rally and this may likely reach the $0.00001600 high mark in the days ahead in its medium-term time frame. This signals a BUY trade again in its medium-term perspective.
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