Shiba Inu Price Analysis — May 23
Shiba Inu remained restricted within a range on Monday, despite a broader recovery in the crypto market over the weekend. As mentioned earlier, SHIB posted a 10% spike in the early Asian session on Monday but failed to preserve this rally and has retraced near the $0.0000120 support.
The 4-hour stochastic indicator shows that the cryptocurrency is easing out of overheated conditions, proposing a bearish continuation to the range base at $0.0000115 in the coming days. However, a return above the $0.0000130 top would put the price above the long-prevailing bearish trendline and the range area, prompting a return to the $0.0000150 zone.
Meanwhile, my resistance levels are $0.0000150, $0.0000170, and $0.0000180, and my support levels are $0.0000120, $0.0000100, and $0.0000900.
Total Market Capitalization: $1.31 trillion
Shiba Inu Market Capitalization: $6.76 billion
Shiba Inu Dominance: 0.51%
Market Rank: #15
The 4-hour stochastic indicator shows that the cryptocurrency is easing out of overheated conditions, proposing a bearish continuation to the range base at $0.0000115 in the coming days. However, a return above the $0.0000130 top would put the price above the long-prevailing bearish trendline and the range area, prompting a return to the $0.0000150 zone.
Meanwhile, my resistance levels are $0.0000150, $0.0000170, and $0.0000180, and my support levels are $0.0000120, $0.0000100, and $0.0000900.
Total Market Capitalization: $1.31 trillion
Shiba Inu Market Capitalization: $6.76 billion
Shiba Inu Dominance: 0.51%
Market Rank: #15
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