SHIB Is Under Bulls’ Control

Shiba Inu is bullish

SHIBUSD Price Analysis – October 28

In case the buyers’ momentum increase further and break up $0.000011 level, Shiba Inu may increase further to $0.000012 levels and the resistance level of $0.000013 may be tested. Should the sellers oppose the buyers at resistance level of $0.000011, price may decrease and penetrate $0.000010 downside, $0.000009 and $0.0000088 may be tested.

Key levels:

Resistance levels: $0.000011, $0.000012, $0.000013

Support levels: $0.000010, $0.000009, $0.0000088

SHIBUSD Long-term Trend:  Bullish

On the daily chart, SHIBUSD is on the bullish movement. The buyers eventually prevailed over the sellers; the crypto was on the range movement within the resistance level of $0.000010 and the support level of $0.000009 last week. On October 25, buyers exerted more pressure and the resistance level of $0.000010 is broken upside. SHIB increases to test the resistance level of $0.000011, it pulled back. At the moment further price increase envisaged.

SHIB is trading above the two EMAs as a sign of bullish movement. The fast Moving Average (9 periods EMA) is crossing the slow Moving Average (21 periods EMA) upside. In case the buyers’ momentum increase further and break up $0.000011 level, price may increase further to $0.000012 levels and the resistance level of $0.000013 may be tested. Should the sellers oppose the buyers at resistance level of $0.000011, price may decrease and penetrate $0.000010 downside, $0.000009 and $0.0000088 may be tested. However, the relative strength index period 14 is at 59 levels displaying bullish direction.

 SHIBUSD medium-term Trend: Bullish

SHIBUSD is bullish in the 4-hour chart. The support level of $0.0000095 was tested twice last week. Buyers opposed sellers at the just mentioned level and the price bounced up to break $0.000010 level. The bulls are exerting more pressure on the market at the moment and the price is breaking up the resistance level of $0.000011.

The coin is trading above the 21 periods EMA and 9 periods EMA. The fast moving EMA is above the slow moving EMA which indicates a strong bullish momentum in Shiba Inu market. The relative strength index period 14 is at 69 levels and the signal lines is exhibiting buy signal.

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