Shiba Inu prices have been falling for the last two weeks, putting them in a narrow range. The crypto market is in a downturn from a wide viewpoint. BTC, which frequently sets the tone for altcoins, is now trading below $60,000, a key support level for the last month. The trend may persist for a while due to the low-risk appetite.

Predictions on the price of a Shiba Inu

For the last two weeks, SHIB has been on the slide. It has declined by around 34.60 percent throughout that time period. Furthermore, it has dropped by almost 50% from its all-time high of 0.00008616 in late October. The cryptocurrency is presently trading below the psychological mark of 0.00005000, as cryptocurrencies continue under pressure this week.

Shiba Inu’s price was up 0.59 percent at 0.00004278 at the time of writing. It is trading below the 25 and 50-day exponential moving averages on a three-hour chart. Furthermore, the cryptocurrency has reached the oversold zone, with an RSI of 28. As a result, I anticipate a short-term corrective comeback.

The cryptocurrency is expected to move in a narrow range between 0.00003998 and 0.00004700, which is the 25-day exponential moving average. If the market continues to rise, the resistance level might rise to 0.00005403. In this case, the Shiba Inu price will most likely stay between a two-week range of 0.00004000 and 0.00006000 in the immediate term.



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