Shiba Inu increases 10% to reach key price level; historical trends indicate impending move SHIB ShibArmy SHIBCommunity
JUST IN: Shiba InuJune 22, 2022
Shiba Inu dropped an additional zero as its price recovered to support levels found in May. Shiba Inu consolidated above $0.00001 from the middle of May until the beginning of June, confirming it as support. Bulls lost this support as a result of the sharp market declines that occurred in the middle of June. Shiba Inu, therefore, hit low levels on June 18, last seen in August 2021, dropping as low as $0.0000071.
The daily RSI is currently tilting slightly upward, indicating an impending move, but overall, the trend is still one of consolidation as the RSI is still hovering around the neutral 50-point level. The market structure for Shiba Inu now resembles that of July to August 2021, when it was consolidating before a significant price rise in October.
To resuscitate it for an uptrend, buyers might have to push the price above the barrier at $0.0000115 and then $0.000023. However, bulls must hold the $0.000010 level as support.
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