Shiba Inu price action seems not to have what it takes to overcome the headwind. Consequently, this has caused recent upside attempts to fail. Now, it appears as if this market has commenced another upside attempt, let’s try to deduce what may happen here.
Shiba Inu Forecast Statistics Data:
SHIB’s current price: is $0.00000863
SHIBs market cap: $4.84 billion
Shuba Inu circulating supply: 549.06 billion
Shiba Inuntotal supply: 589.74 billion
SHIB Coinmarketcap ranking: #14
Major Price Levels:
Top: $0.00000863, $0.00000883, $0.00000903
Botom: $0.00000843, $0.00000823, $0.00000803
Shiba Inu Price Prediction Today, November 23, 2022: SHIB/USD Struggles to Move Upwards
SHIB/USD price activities have subsequently returned to a slight downward movement after each upside attempt. The latest price candle here formed bullish, however, will need more effort from the buyer’s side to result in a significant upside move. Even the Stochastic RSI lines look mangled as it moves slightly upwards. Also, the recent or terminal part of the Bollinger band looks to be tilting downwards to portray the stronger forces in this market. With this much opposition to the upside price move, it is unlikely that the Shiba Inu price will move significantly upwards.
SHIB Price Prediction Today, November 23, 2022: SHIB/USD Attempting to Retrace Upwards
On the SHIB/USD 4-hour chart price seems to have triggered downward forces. Following the formation of a long Bullish candle, another red candlestick soon formed to indicate that selling has started already. However, the Stochastic RSI continues to point steeply into the overbought zone from below the 70% mark. All the price movements so far have stayed under the Moving Average curves of the used Bollinger band. We can either wait to see if the price will continue to develop, however since selling seems to have started already, price may likely fall toward the $0.00000820 level.
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