Shiba Inu (SHIBUSD) Price Forecast: June 5
SHIBUSD at the moment is trying hard not to fall by resisting sellers, in case the bulls add extra efforts to their buying pressure and breaks up the previous swing high at $0.00001590 value, the coin price may increase further to a $0.00002000 high trend line which indeed will be a turnaround for the coin holders.
Key Levels:
Resistance Levels: $0.00001400, $0.00001500, $0.00001600
Support Levels: $0.000011, $0.000010, $0.000009
SHIB (USD) Long-term Trend: Bullish (Daily Chart)
The price of Shiba-Inu is currently trading in a bullish zone in its long-term view. The high turn-up from buyers actually adds to the bullish impact on the market.
Despite the interactions from the short traders the bulls caused a rise to a $0.00000870 high value above the EMA-9 as the daily chart opens today. Trading above the moving average-9 will enable the market value of SHIBUSD to keep pushing up. Therefore, if the bulls should add more aggression to their activities in the market, $0.00001590 previous resistance level might be retested soon.
Adding to this, the daily stochastic suggests an uptrend. Therefore a break above the $0.0001590 will invalidate any further bearish sentiment and this might possibly extend the price of SHIBUSD to the $0.00002000 supply value in the coming days in its long-term outlook.
SHIB (USD) Medium-term Trend: Bullish (4H Chart)
The price of Shiba-Inu opened lower but managed to trade in green over the past hours. This means that the coin is in a bullish trend zone in its medium-term time frame.
The coin price at the $0.00000864 support value which is above the two EMAs as the 4-hourly chart opens today indicates an uptrend and more bullish impact on the coin. Thus, staying above the supply trend levels will make it capable for the coin price to rise further and breakup the $0.00001040 resistance level.
Further, the price of SHIBUSD may likely breakup the mentioned previous high soon as the bulls are seen clustered around the market now. This will compel the bulls to push the coin price to hit the $0.00002000 high value in the days ahead in its medium time frame.
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