Shiba Inu its volatility and volume have been at low levels in the last few days compared to the past. SHIB indicates that it is conducting a consolidation period before a move. The SHIB price is stuck in a narrow december and has the potential for a big increase.
Technical Analysis of Shiba Inu
The price of Shiba Inu is trading in a narrow range, while experts predict a major break december The important recorded levels are the 0.000050 dollar support point and the 0.000055 dollar resistance level. SHIB, continues its struggle to get out of the declining triangle model. And the metrics show that the downward trend is stalling, at least for now.
Bulls Shiba Inuthe fact that it is taking over momentum in may indicate the beginning of an upward trend. Trading volume remained low after the break-out of the triangle model, which fell in the technical indicators of SHIB. This will increase the likelihood of a scenario of silence before the storm. The RSI notes a pause session ahead of any trend in either direction, while remaining at the level of 50.
MACD it points to the momentum weakness that follows when completing the upward trend during the break from the descending triangle model. However, in the daily time frame, the MACD shows that the upward trend may soon return as it charts higher bottoms on the histogram.
SHIB Is Trying to Overcome This Key Level
SHIB the forecasts on it are currently neutral, but although the explosion scenario from the descending triangle is an upward scenario, the momentum is insufficient to maintain the current trend. In order to rise again, the key resistance level of the 0.000055 dollar must be broken. SHIB the short-term forecast for the price, on the other hand, is a decoupling between the current key support and resistance levels.
But for the confirmation of the upward trend, it is necessary to exit the specified price december and move up. As the volatility and momentum decrease, the probability of a sharp break increases. The recommendations of experts were noted as patience and close monitoring of the key resistance level.