SHIBA INU ends the trading week at 0.00000993 and continues to move as part of the fall and the start of the Triangle pattern. Moving averages indicate a bullish trend. Prices are again testing the area between the signal lines, which indicates pressure from buyers of the coin and a potential continuation of growth in the near future. As part of the SHIB/USD rate forecast for the next trading week, we should expect an attempt to develop a bullish correction in the value of the digital asset and a test of the resistance area near the level of 0.00001085. 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 May 8 — 12, 2023
An additional signal in favor of a decrease in SHIB/USD quotes in the current trading week May 8 — 12, 2023 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the Triangle pattern. 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 0.00001295 area. This will indicate a breakdown of the resistance area and continued growth of SHIB/USD quotes with a target above the level of 0.00002165. The fall of the cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level of 0.00000895.
SHIBA INU Weekly Forecast May 8 — 12, 2023 suggests an attempt to test the support area near the level of 0.00001085. Then the fall continues to the area above the level of 0.00000705. 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 0.00001295. This will indicate a continued decline in the cryptocurrency with a target below the level of 0.00002165.
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