The latest price analysis by Coinidol.com report, the price of Shiba Inu (SHIB) has fallen below the moving average lines.

Shiba Inu price long term forecast: bearish

Since December 19, the altcoin has been trading above the $0.00002000 support but below the 50-day SMA resistance. SHIB is now falling after rejecting an upside correction that peaked at $0.00002400.

Based on the price indication, SHIB is expected to continue lower. If the bears break the $0.00001800 support, SHIB will fall to the 2.0 Fibonacci extension level or a low of $0.00001429. However, the altcoin will continue to fluctuate above its current support level of $0.00002000 until the trend is determined. SHIB is now worth $0.00002312.

Shiba Inu indicator analysis

SHIB is trading in a downtrend with the price bars still below the moving average lines. On the 4-hour chart, the price bars are embedded between the moving average lines. The cryptocurrency price is determined by a small, indecisive candle known as a doji. Over the next few days, the cryptocurrency is likely to remain within its range.

Technical indicators

Key Resistance levels: $0.00002800, $0.00002900, $0.00003000

Key Support levels: $0.00002200, $0.00002000, $0.00001900

What is the next move for Shiba Inu?

SHIB is predicted to fall as it faces rejection at its high of $0.00002400. The altcoin has been holding in a price range of $0.00001800 to $0.00002400. The price change has been marginal according to Doji candlesticks.

Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.