Shiba Inu Coin Prediction: Headwinds to Price Recovery Exist

Today’s Shiba Inu coin price prediction shows that the token continues to face headwinds, despite the modest recovery of the last week. The coin, which was created to be the “Dogecoin killer,” continues to struggle to find upside momentum as the crypto market’s struggles continue.

The Shiba token was recently listed on Changelly PRO, a move that allows buyers to acquire the crypto using fiat currency methods. However, the coin seems to have been a victim of bad timing, being listed on Binance just before the May market crash. The coin is currently in a corrective rally. But with the asset still in a downtrend, it may not be easy getting additional traction on the token.

Shiba Inu Coin Price Prediction

The Shiba Inu coin price prediction outlook is drawn from the picture on the 4-hour chart, where the price is now ticking upwards following the formation of bullish divergence between price and the RSI. This uptick broke the 0.00000681 price mark, converting that level into immediate support. The price to beat for the bulls is at 0.00000735. A break above this level opens the door towards the 0.00000834 resistance target, with 0.00001025 forming an additional barrier to the north. Attainment of the latter depends on price breaking above the channel. 

On the flip side, a rejection at 0.00000735 could allow for a test of 0.00000681 in its new capacity. If this level fails to hold, then a march towards 0.00000550 could become inevitable, given the fact that the coin is in a downtrend.  

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Shiba Inu 4-hour Chart

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