{"id":150620,"date":"2023-09-06T10:19:31","date_gmt":"2023-09-06T04:49:31","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=150620"},"modified":"2023-09-06T10:19:31","modified_gmt":"2023-09-06T04:49:31","slug":"heres-what-could-trigger-recovery-in-shiba-inu-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/heres-what-could-trigger-recovery-in-shiba-inu-crypto-news\/","title":{"rendered":"Here\u2019s What Could Trigger Recovery In Shiba Inu &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>SHIB price (Shiba Inu) is struggling below the $0.000008 resistance against the US Dollar. <\/em>Shiba Inu could start a recovery wave if it settles above <em>$0.000008.<\/em><\/p>\n<ul>\n<li>Shiba Inu price extended its decline and tested the $0.0000074 zone against the US Dollar.<\/li>\n<li>The price is now trading below $$0.000008 and the 100 simple moving average (4 hours).<\/li>\n<li>There is a key bearish trend line forming with resistance near $0.0000077 on the 4-hour chart of the SHIB\/USD pair (data source from Kraken).<\/li>\n<li>The pair could start a recovery wave if it clears the $0.0000078 and $0.0000080 levels.<\/li>\n<\/ul>\n<h2>SHIB Price Faces Uphill Task<\/h2>\n<p>In the past few days, SHIB price saw a steady decline below the $0.0000088 level. The bears were able to push the price below the key support at $0.0000080.<\/p>\n<p>Finally, Shiba Inu found support near the $0.0000074 zone. A low is formed near $0.00000739 and the price is now attempting a recovery wave, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bulls-hold-strong-25500\/\">Bitcoin<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-lacks-momentum-1650\/\">Ethereum<\/a>. It is now consolidating near the 23.6% Fib retracement level of the downward move from the $0.00000845 swing high to the $0.00000739 low.<\/p>\n<p>However, SHIB price is trading below $$0.000008 and the 100 simple moving average (4 hours). Besides, there is a key bearish trend line forming with resistance near $0.0000077 on the 4-hour chart of the SHIB\/USD pair.<\/p>\n<p>On the upside, the bears are protecting the $0.0000077 level and the trend line. The next major resistance is near the $0.0000078 level or the 50% Fib retracement level of the downward move from the $0.00000845 swing high to the $0.00000739 low.<\/p>\n<\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/SHIBUSD\/\">SHIBUSD on TradingView.com<\/a><\/p>\n<p>The main resistance is now forming near the $0.0000080 level. A close above the $0.0000080 level might send the price toward the $0.0000088 level. Any more gains might send the price towards the $0.0000092 level.<\/p>\n<h2>More Losses In Shiba Inu?<\/h2>\n<p>If Shiba Inu price fails to clear the $0.0000078 resistance, it could start another decline. Initial support on the downside is near the $0.0000075 level.<\/p>\n<p>The first major support is near the $0.0000074 level. The next major support is near the $0.0000072 level. If there is a downside break below the $0.0000072 support, there could be an extended decline towards the $0.0000070 zone.<\/p>\n<p>Technical Indicators<\/p>\n<p>4 Hours MACD \u2013 The MACD for SHIB\/USD is losing pace in the bearish zone.<\/p>\n<p>4 Hours RSI (Relative Strength Index) \u2013 The RSI for SHIB\/USD is currently below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $0.0000075 and $0.000074.<\/p>\n<p>Major Resistance Levels \u2013 $0.0000078, $0.0000080 and $0.0000088.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SHIB price (Shiba Inu) is struggling below the $0.000008 resistance against the US Dollar. Shiba Inu could start a recovery wave if it settles above $0.000008. Shiba Inu price extended its decline and tested the $0.0000074 zone against the US Dollar. The price is now trading below $$0.000008 and the 100 simple moving average (4 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":150621,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-150620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=150620"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150620\/revisions"}],"predecessor-version":[{"id":150622,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/150620\/revisions\/150622"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/150621"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=150620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=150620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=150620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}