Analysis Bitcoin

SHIB Price: Bearish Momentum Increases, Tamadoge Goes Stronger


The bears are dominating SHIB market

SHIBUSD Price Analysis – September 18

Further increase in the sellers’ momentum may break down $0.000011, $0.000010 support levels and the resistance level of $0.000009 may be tested. In case the buyers defend the support level of $0.000011, SHIB may reverse and penetrate $0.000012 upside, $0.000013 and $0.000014 may be reached.

Key levels:

Resistance levels: $0.000012, $0.000013, $0.000014

Support levels: $0.000011, $0.000010, $0.000009

SHIBUSD Long-term Trend:  Bearish

On the daily chart, SHIBUSD is on the bearish movement. Last two weeks, the coin was under the control of the bulls. The price was increasing and $0.000015 was tested. The sellers interrupts the buyers at the just mentioned level.  Sellers’ pressure increased and the price falls accordingly. Since September 09, the crypto has being on a bearish mode. The sellers’ momentum became strong and break down the just mentioned level.

The fast Moving Average (9 periods EMA) is crossing the slow Moving Average (21 periods EMA) downside. The price is trading below the two EMAs as a sign of bearish movement. Further increase in the sellers’ momentum may break down $0.000011, $0.000010 support levels and the resistance level of $0.000009 may be tested. In case the buyers defend the support level of $0.000011, price may reverse and penetrate $0.000012 upside, $0.000013 and $0.000014 may be reached. However, the relative strength index period 14 is at 41 levels pointing downside to indicate sell signal.

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 SHIBUSD medium-term Trend: Bearish, Tamadoge Goes Stronger

SHIBUSD is bearish in the 4-hour chart. On August 15, the coin falls from the resistance level of $0.000017 to the support level of $0.000012. It pullback to retest the broken level.  The price decreased towards the support level of $0.000011, it consolidates for few days. At the moment, price is breaking down the just mentioned level.

The coin is trading below the 21 periods EMA and 9 periods EMA. The later EMAs is crossing the former downside which indicate a bearish momentum in Shiba Inu market. The relative strength index period 14 is at 36 levels and the signal lines is exhibiting sell signal.

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