Shiba Inu Forecast Shows A Bullish Rally

last updated on

Shiba Inu Forecast Shows A Bullish Rally

Shiba Inu (SHIB) Forecast: A 10% Rally Is On The Cards

Shiba Inu's (SHIB) technical analysis shows that the coin is going through a phase of exhaustion. At the same time, the SHIB charts also show that the chances of a pullback are also present, which can be a good sign for those buyers who can wait.

For now, the chances of a pullback combined with the positive signs on the momentum indicator show that the Shiba Inu (SHIB) will experience a bullish rally very soon.

More Upside Ahead For SHIB

The coin has already gained a 16% upside after it had a bullish break from the downward trend. At the same time, SHIB also formed a top near the 0.00000824 level a few days ago. However, it appears that the SHIB came under selling pressure after forming the swing high.

Over all, the RSI indicator shows a bearish divergence on the Shiba Inu (SHIB) chart, which is a sign of trend reversal. For the most part, this view holds true, but it can also lead to a pullback in the presence of strong buying pressure.

That's why it is safe to say that the chances of failure are very low for the SHIB bulls. So, a more appropriate forecast is for the consolidation of the Shiba Inu (SHIB) coin. This will enable the buyers on the sidelines to join the trend and thus push the coin higher.

Given this backdrop, some analysts are calling for an 11% upside in the Shiba Inu (SHIB). Given the recent optimism in the crypto market, it makes sense for the Shiba Inu (SHIB) to also join in on the fun!

On the contrary, some analysts are also calling for a -4.5% downside in the Shiba Inu (SHIB), which will send it down to the 0.00000709 support zone. But the chances of a bullish rally in the Shiba Inu (SHIB) are higher as compared to a bearish rally.

Trending Stories