SHIBA INU ends the trading week at 0.00003121 and continues to move within the correction and the downward price channel. Moving averages indicate a bearish trend. Prices have broken through the area between the signal lines down, which indicates pressure from the sellers of the coin and a potential continuation of the fall. As part of the SHIB/USD rate forecast for the next trading week, we should expect an attempt to develop a correction in the value of the digital asset and a test of the support area near the level of 0.00002655. From where a rebound is expected again and an attempt to raise the SHIBA INU cryptocurrency with a potential target above the level of 0.00006505.
SHIBA INU Weekly Forecast January 17 — 21, 2022
An additional signal in favor of the rise in SHIB/USD quotes in the current trading week January 17 — 21, 2022 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the double bottom reversal pattern. Cancellation of the growth option for the SHIBA INU cryptocurrency in the next trading week will be a fall and a breakdown of the 0.00002305 area. This will indicate a breakdown of the support area and a continuation of the fall of SHIB/USD quotes with a target below the level of 0.00001505. The rise of the cryptocurrency will be confirmed by a breakdown of the resistance area and closing of quotes above the level of 0.00005255, which will indicate a breakdown of the upper limit of the downward channel.
SHIBA INU Weekly Forecast January 17 — 21, 2022 suggests an attempt to test the support area near the level of 0.00002655. Then continued growth to the area above the level of 0.00006505. An additional signal in favor of the rise of SHIBA INU will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 0.00002305. This will indicate a continued decline in the cryptocurrency with a target below the level of 0.00001505.
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