Shiba INU coin

Shiba Inu Gets Back Above $0.000007 As Bitcoin Moves Higher

Shiba Inu Tries To Gain Upside Momentum

Shiba Inu is currently trying to settle back above $0.000007 while Bitcoin is moving towards the resistance level at $42,600.

Other cryptocurrencies are also moving higher today.  Ethereum received support at $2,800 and is trying to settle above $2,900 while XRP is trying to settle above $0.92. Dogecoin, which often has an impact on Shiba Inu dynamics, attempts to climb back above the resistance at $0.20.

Shiba Inu has been recently stuck near $0.000007 while Bitcoin tried to get to the psychologically important support level at $40,000. It looks that Shiba Inu traders were waiting for clues from the world’s leading cryptocurrency and were not ready to make big moves in recent trading sessions. At this point, the crypto market sentiment remains mixed, and most cryptocurrencies have moved back and forth in recent days.

Technical Analysis

shiba inu september 29 2021

Shiba Inu did not manage to get to the test of the support level at $0.0000067 and returned to the $0.000007 level. In case Shiba Inu settles above $0.000007, it will move towards the next resistance level which is located at the 50 EMA near $0.0000073. RSI remains in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

A successful test of the resistance at $0.0000073 will open the way to the test of the next resistance at $0.00000745. In case Shiba Inu gets above this level, it will continue its upside move and head towards the resistance at $0.0000077. A move above this level will push Shiba Inu towards the resistance at $0.000008.

On the support side, the nearest support level for Shiba Inu is located at $0.0000067. If Shiba Inu manages to settle below this level, it will get to the test of the next support level at $0.0000065. In case Shiba Inu declines below the support at $0.0000065, it will move towards the support at $0.0000063.

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