• Shiba Inu is in an uptrend and momentum still favors bulls.
• The price has been making higher highs since late June, and SHIB has not stopped since.
• Buyers continue to dominate the chart, which is also reflected in the price.
Shiba Inu Price Analysis
Shiba Inu is currently in an uptrend with buyers dominating the charts. The price has been making higher highs since late June and momentum still favors bulls.
Uptrend Formation
The uptrend formation of Shiba Inu appears to have formed a bearish wedge which could see the price break under it once the key resistance is hit.
Sustained Buy Volume
Despite regular pullbacks, buyers continue to dominate the chart which is represented by the steady increase of prices every week.
Bullish Momentum Indicators
The MACD and RSI indicators show higher highs indicating that momentum remains positive for Shiba Inu.
Short-Term Prediction for SHIB Price
A test of the key resistance at $0.0000094 appears imminent but it’s important to watch closely how the wedge will resolve as a break below it could lead to a correction. On the other hand, a break above it could likely be extremely bullish for SHIB.
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