SHIBA INU is trading at the time of the publication of the forecast at the level of 0.000056460 and continues to move within the correction and the downward channel. The correction continues across the coin. However, there is some good news. The current price structure is very reminiscent of the formation of the Head and Shoulders reversal pattern. Moving averages indicate a bearish trend. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the coin and a potential continuation of the fall from the current levels. As part of the SHIB/USD rate forecast, one should not consider an attempt to develop a correction in the value of a digital asset and a test of the support area near the level of 0.00005005. From where a rebound is expected again and an attempt to raise the SHIBA INU cryptocurrency with a potential target above the level of 0.00008055.
SHIBA INU Forecast and Analysis November 9, 2021
An additional signal in favor of raising the SHIB/USD quotes for tomorrow will be a rebound from the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bearish channel. Cancellation of the option to raise the SHIBA INU cryptocurrency will be a fall and a breakdown of the 0.00004505 area. This will indicate a breakdown of the support area and a continued fall in SHIB/USD quotes with a target below the level of 0.00003005. Confirmation of the rise in the cryptocurrency will be the breakdown of the resistance area and the closing of quotations above the level of 0.00007035, which will indicate a breakdown of the upper border of the downward correction channel.
SHIBA INU Forecast and Analysis November 9, 2021 implies an attempt to test the support area near 0.00005005. Then continued growth to the area above the level of 0.00008055. An additional signal in favor of the rise of SHIBA INU will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 0.00004505 area. This will indicate a continued decline in cryptocurrency with a target below 0.00003005.