Shiba Inu Coin Price Analysis November 4 2021 Failed to Break Resistance

Lovata Andrean

Shiba Inu Coin Price Analysis November 4 2021 Failed to Break Resistance
Shiba Inu Coin Price Analysis November 4 2021 Failed to Break Resistance

Rancakmedia.com – Shiba Inu failed to break the critical barrier at $0,000073 and is currently falling again towards the support at $0,000060. The last time prices touched this level, bulls bounced back strongly, but can they do it again?

The price action, as well as the indications, warn that Shiba may have used up a lot of gas in its recent rise, and appears to need more time to recover before it can continue higher.

Investors generally use the fall in the price of Shiba Inu to 'shuffle' at the lowest price in order to reap profits when the price rises.

SHIB Price Technical Indicators

SHIB Price Technical Indicators

Trading Volume: Volume has basically evaporated in the previous two days. There is currently relatively little interest in SHIB.

Price activity also shows the same trend. Typically, low volume days may signal significant changes. This may happen after SHIB approaches to support.

RSI: The RSI is in free fall, especially on the daily time scale. There were no bullish indications at that time.

We should check again on the chart once SHIB reaches the support level to see if there will be a positive signal on a lower timeframe.

MACD: MACD made a bearish crossover on the 12-hour period. If this rises to a daily period, then SHIB will not look attractive to potential buyers.

Both the histogram and moving average are bearish on lower time frames, but on a day-to-day basis, there is still a chance the MACD moving average will curve back.

This analysis can be determined when the price reaches this support, but breaks below it and the daily will become bearish. On the other hand, a big rebound in support might point to a new rally.

Short Term Predictions for Shiba Inu Price

Shiba Inu may revisit $0,000060. It is recommended to remain patient in this case and wait for the price to decide its next move.

Shiba Inu has had an incredible rally this year. Therefore, exhaustion is likely to develop now, and there may not be enough gas left to push SHIB higher any time soon.

When the market heats up, buyers have many temptations, and Shiba Inu will become attractive only if there are clear bullish indications. These signals do not exist at this time.

Conclusion

Shiba Inu failed to break the critical barrier at $0,000073 and is currently falling again towards the support at $00,000060. The last time prices touched this level, bulls bounced back strongly, but can they do it again? We should check again on the chart once SHIB reaches the support level to see if there will be a positive signal on a lower timeframe.

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