Shiba Inu holds over $0.00002500 and is rising steadily.

The price of Shiba Inu (SHIB) has been hovering between $0.00002100 and $0.00003200 since March 4, 2024.

Long-Term Forecast for Shiba Inu Prices: Range

Price movements were limited and range-bound. On May 20, the cryptocurrency price crossed above its moving average before retracing and retesting its 50-day SMA. The Doji candlestick limited the price movement. Traders cannot be sure which direction the market will move. The price of the altcoin is stable and currently consolidating above support levels. The current value of SHIB/USD is $0.00002560.

Shiba Inu Indicator Analysis

A doji candlestick flattens the moving average line horizontally. The price bar is above the moving average, but the doji candle limits the range of price movement.

technical indicators

Key resistance levels: $0.00001200, $0.00001300, $0.00001400

Key support levels: $0.00000600, $0.00000550, $0.00000450

What’s next for Shiba Inu?

SHIB/USD is moving steadily within a narrow trading range and its upward momentum is stalled by resistance at $0.00002800. At the same time, bulls are defending the current support level of $0.00002100 as the altcoin remains range-bound. On May 20, the altcoin rallied and tested the $0.00002612 resistance level. SHIB price moved lower and started trading above the $0.00002500 support and below the $0.00002600 resistance. A price recovery or breakout will push the altcoin into a trend.

disclaimer. This analysis and predictions are the personal opinions of the author and are not a recommendation to buy or sell any cryptocurrency and should not be considered an endorsement by CoinIdol.com. Readers should do their research before investing in any fund.