- Paypal announced that the UK customers would soon have access to Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
- Shiba Inu’s price prediction remains neutral in between a narrow range of 0.000086 – 0.000080 levels.
- Forex trading market participants should look for a buy trade above the $0.0000080 level.
The SHIB/USD is trading with a neutral bias, trading at the 0.0000082 level. The day before, the SHIB/USD pair extended its early-day winning streak and took some further bids well above the 0.00000843 level. Shiba Inu price prediction remains neutral in between a narrow range of 0.000086 – 0.000080 levels.
Shiba Inu Price Review
The SHIBA INU price is trading near $0.00000843 with a 24-hour trading volume of $345,777,325. SHIBA INU dropped by 1.13% in the past twenty-four hours. After a bullish rally in the past week, Shiba Inu has closed a cup with a handle base and a daily close over the handle high of $0.00000887.
The coin could rise again as it is still showing a “bullish” trend. The latest data suggests that SHIB will see another resistance test at around $0.0000096. Therefore, the trend still points upward from here.
At this time, Shiba Inu has a high entry price for new investors. Therefore, it’s challenging to find any massive movement in the coin right now. SHIB’s subdued attitude makes it difficult for new investors to buy and embrace the meme cryptocurrency.
Latest Development Regarding Crypto
The buying bias surrounding the SHIBA INU could be associated with the continuous progress in the crypto market. As per the latest report, the global payments provider (PayPal) supports cryptocurrencies.
Paypal announced that UK customers would soon have access to Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). That will be possible via PayPal’s website and mobile app. These latest positive remarks raised investors’ confidence in the crypto market. This, in turn, has a bullish impact on cryptocurrencies.
Bearish US Dollar Underpins SHIB/USD
The broad-based US dollar failed to extend its previous week’s positive performance. Therefore, the reason could be tied to the market’s upbeat mood, which tends to weaken the safe-haven US dollar. The careful sentiment ahead of the US Federal Reserve’s Jackson Hole symposium played a significant role in undermining the dollar.
Besides this, Dallas Federal Reserve President Robert Kaplan said he might need to adjust his view of the taper in October. That’s because of the coronavirus Delta variant outbreak and its potential impact on the economy. Consequently, the comments weighed on the greenback and kept the SHIB prices higher.
SHIB/USD Price Prediction – Daily Technical Levels
Pivot Point: 0.00000776
Shiba Inu Price Prediction – Daily Technical Analysis: Choppy Range in play
Shiba Inu price prediction remains neutral in between a narrow range of $0.000086 – $0.000080 levels. The sideways pattern provides immediate resistance at $0.000080 levels along with a support level of $0.000086.
On the bullish side, the $0.000086 resistance level breakout could drive additional buying until the $0.000089 levels. In contrast, the bearish breakout of $0.000080 levels can extend selling until $0.0000074 and $0.0000071.
Typically, the sideways trading range exhibits indecision among investors and tends to break on either side. The direction of a breakout can be decided based upon the fundamentals of the US economy or the latest updates on the Shiba coin.
The Stochastic RSI remains in the neutral zone. However, a bearish breakout of the $0.0000080 level could trigger a sell until $0.0000074 and $0.00000718. While on the bullish side, a crossover above 50 can lead the pair towards $0.0000083 and $0.00000085 levels. Hence, the Forex trading market participants should look for a buy trade above the $0.0000080 level. The initial target remains at $0.0000084 and $0.0000088. All the best.
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