SHIBA INU is trading at the time of publication of the forecast at the level of 0.00002663, they continue to move as part of the correction and the formation of the “Wedge” reversal pattern. Moving averages indicate a short-term bullish trend for the coin. Prices have broken through the area with upward signal lines, which indicates pressure from coin buyers and potential continued growth from current levels. As part of the SHIB/USD rate forecast, it is worth considering an attempt to develop a bearish correction in the value of a digital asset and a test of the support area near the level of 0.00002505. From where again a rebound is expected and an attempt to continue the growth of the SHIBA INU cryptocurrency with a potential target above the level of 0.00003005.
Shiba Inu forecast for May 31, 2024
An additional signal in favor of raising the quotes of the SHIB/USD asset for tomorrow will be a rebound from the support line on the relative strength index. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option with the growth of the SHIBA INU cryptocurrency will be a fall and a breakdown of the area of 0.00002355. This will indicate a breakdown of the support area and a continued fall in SHIB/USD quotes with a target below the level of 0.00001985. Confirmation of the growth of the cryptocurrency will be a breakdown of the resistance area and closing of quotes above the level of 0.00002705, which will indicate a breakdown of the upper boundary of the “Wedge” reversal pattern and the beginning of the development of a pattern with targets above.
Shiba Inu forecast for May 31, 2024 suggests an attempt to develop a correction of the coin and a test of the support area near the level of 0.00002505. Then, continued growth to the area above the level of 0.00003005. An additional signal in favor of growth for SHIBA INU will be a test of the trend line on the relative strength indicator (RSI). Cancellation of the rise option will be a fall and a breakdown of the area 0.00002355. This will indicate a continued decline in the cryptocurrency with a target below the level of 0.00001985.
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