SHIBA INU is trading at the time of the publication of the forecast at the level of 0.00001131, they continue to move as part of the correction and the formation of the “Head and Shoulders” reversal pattern. Moving averages indicate the presence of a short-term bullish trend for the coin. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the coin and a potential continuation of growth already from current levels. As part of the SHIB/USD rate forecast, it is worth considering an attempt to develop a bullish correction in the value of a digital asset and a test of the support area near the level of 0.00001245. From where a rebound down is expected again and an attempt to continue the fall of the SHIBA INU cryptocurrency with a potential target below the level of 0.00000805.
SHIBA INU Crypto Forecast July 29, 2022
An additional signal in favor of falling SHIB/USD quotes for tomorrow will be a rebound from the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the reversal pattern. Cancellation of the option to reduce the SHIBA INU cryptocurrency will be a strong growth and a breakdown of the 0.00001375 area. This will indicate a breakdown of the resistance area and a continued rise in SHIB/USD quotes with a target above the level of 0.00001865. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level of 0.00000975, which will indicate a breakdown of the lower border of the reversal pattern and the beginning of this pattern.
SHIBA INU Crypto Forecast July 29, 2022 suggests an attempt to develop a correction of the coin and a test of the resistance area near the level of 0.00001245. Then, the continuation of the fall to the area below the level of 0.00000805. An additional signal in favor of the decline in SHIBA INU will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the area of 0.00001375. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.00001865.
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