SHIBA INU completes the trading week at 0.00001218 and continues to move as part of the correction and the formation of the “Wedge” reversal pattern. Moving averages indicate a bearish trend. 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. As part of the SHIB/USD rate forecast for the next trading week, we should expect an attempt to develop an increase in the value of the digital asset and test the resistance area near the level of 0.00001385. 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 0.00000705.
SHIBA INU Weekly Forecast August 8 — 12, 2022
An additional signal in favor of falling SHIB/USD quotes in the current trading week August 8 — 12, 2022 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel, as well as from the “Wedge” model. Cancellation of the fall option for the SHIBA INU cryptocurrency in the next trading week will be a strong growth and a breakdown of the 0.00001755 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 0.00002275. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level of 0.00000965, which will indicate a breakdown of the lower border of the “Wedge” reversal pattern.
SHIBA INU Weekly Forecast August 8 — 12, 2022 suggests an attempt to test the resistance area near the level of 0.00001385. Then the continuation of the fall to the area below the level of 0.00000705. 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 0.00001755. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.00002275.
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