Shiba Inu (SHIBUSD) Might Head to the $0.00001590 High Level
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Shiba Inu (SHIBUSD) Price Forecast: February 21
The SHIBUSD pair still trades in an uptrend and might head to the $0.00001590 high level. Thus, a sharp breakout and closure above the current correction phase at the $0.00001377 high value will invalidate any bearish thesis and the price might hit the high of $0.00002000 upper level and beyond.
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)
Shiba Inu remains bullish on the higher time frames. This is clear as we can see the prices trading above the two EMAs.
The coin price finds a reliable resistance at around $0.00001377 level above the moving averages, resulting in intraday gains. Hence, staying above the two EMAs indicates a strong possibility for a bullish correction. If the SHIBUSD price currently exchanges hands at the $0.00001399 support level, and with sustained buying pressure, it is likely to retest the $0.00001590 supply zone.
Further, the coin price is in an upward direction on the daily signal, this suggests a bullish continuation and this may drive the crypto price to the $0.00002000 upper resistance trend line in the days ahead in its higher time frame.
SHIB (USD) Medium-term Trend: Bullish (4H)
The coin price still trades in a bullish market in its medium-term perspective. The bulls acted bravely during yesterday’s session by pushing the price of Shiba Inu to the $0.00001400 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 $0.00001360 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 going up to its recent swing high, which is $0.00001590 value; this may possibly increase to the $0.00002000 supply mark in the coming days in the medium-term outlook.
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