Shiba Inu (SHIB) price prediction: bearish

On the daily chart, the altcoin is trading below the 21-day SMA barrier or resistance at $0.00001300 but above the support at $0.00001100.

The price of Shiba Inu (SHIB) is fluctuating within a range after falling to a low of $0.00001067 on February 3. SHIB price long term prediction: bearish

On the daily chart, the altcoin is trading below the 21-day SMA barrier or resistance at $0.00001300 but above the support at $0.00001100. The 21-day SMA barrier repelled SHIB today as it started its rangebound trend. The altcoin was rejected twice at the 21-day SMA barrier in the previous price action. The altcoin is retracing to its previous low above the $0.00001100 support.

However, if the negative trend breaks the support at $0.00001100, the altcoin will fall and reach the expected price level of 1.618 Fibonacci extension or $0.00000949.

Analysis of the SHIB indicator

The moving average lines have dropped significantly at the bottom of the chart. The resistance line of the price bars is the 21-day SMA. The underside of the chart is indicated by the elongated candle tails. They indicate that there is considerable buying pressure at lower prices.    Technical indicators

Key Resistance levels: $0.00002800, $0.00002900, $0.00003000

Key Support levels: $0.00002200, $0.00002000, $0.00001900

What is the next move for Shiba Inu?

Since February 3, the altcoin has maintained its position above the $0.00001100 support, reducing selling pressure. The upside is limited below the high of $0.00001300.

According to the price analysis by Coinidol.com, SHIB is trading in a range above the current support. The market has moved sideways since March 11 as the altcoin reaches bearish exhaustion.