Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Is SHIB Preparing for a Massive Move? Three Things to Watch This Week (Shiba Inu Price Analysis)

Is SHIB Preparing for a Massive Move? Three Things to Watch This Week (Shiba Inu Price Analysis)

CryptopotatoCryptopotato2024/02/06 12:07
By:Duo Nine

Shiba Inu is currently in a flat trend, but this could be the calm before the storm.

Key Support levels: $0.0000087

Key Resistance levels: $0.0000095

 

1. Flat Price Action

In the past two weeks, SHIB’s price has been moving sideways between the key levels. So far, the support at $0.000087 has held well and buyers could attempt to challenge the resistance at $0.0000095 in the near future.

Is SHIB Preparing for a Massive Move? Three Things to Watch This Week (Shiba Inu Price Analysis) image 0

 

2. Volatility and Volume Decreasing

Since the most recent high in December, Shib Inu’s volume has been declining. Most recently, volatility has also decreased substantially, with barely any significant moves. This could indicate pressure is building up for a major move later on.

Is SHIB Preparing for a Massive Move? Three Things to Watch This Week (Shiba Inu Price Analysis) image 1

 

3. MACD Moving Sideways

The MACD histogram on the daily timeframe is flat. This is expected, considering the price has been moving sideways for some time. Nevertheless, the MACD moving averages painted a bullish cross in late January, which is a promising sign for buyers.

Is SHIB Preparing for a Massive Move? Three Things to Watch This Week (Shiba Inu Price Analysis) image 2

Bias

The bias for SHIB is neutral.

Short-Term Prediction for SHIB Price

Buying volume has to return to SHIB if the price is to move higher. Until that happens, this sideways movement is likely to persist.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

The Rise of Bitcoin DeFi: Infrastructure Development and Market Boom

We are likely to see bitcoin evolve from "digital gold" into the most important foundational asset in the multi-chain DeFi ecosystem.

深潮2025/09/09 09:12