Shiba Inu optimistic and recovering positions
Shiba Inu Price Prediction for April 19, 2022
With the cryptocurrency market recovering a bullish position, Shiba Inu (SHIB) has found an optimistic rhythm. Shiba Inu has been on an upward trajectory in recent days after posting a 10% jump this week amid Bitcoin's rally to $42K. Meanwhile, rival meme coin Dogecoin jumped more than 8% this week, while Ethereum trades more than 10%.
SHIB's current bullish outlook comes as a result of Bitcoin's rebound. Key Shiba Inu Levels to Watch: Apr 19 SHIB has fallen into inertia after experiencing a strong rejection of the $0.0000250 resistance since Monday. Doge's rival meme coin posted a 12% drop to a low of $0.0000220 on Monday as it slipped below the critical support line of $0.00002275, where it is currently struggling to recover.
That being said, we could see an extension of the prevailing sideways pattern for a while longer and a possible drop to the $0.0000265 level as the price breaks out of oversold conditions. A return to oversold territories on my 4hrs stochastic indicator should help Shiba Inu attract massive buying and retest the $0.0000290-$0.0000300 zone in the near term.
Total Market Cap: $2.14 Billion Shiba Inu Market Cap: $14.9 Billion Shiba Inu Dominance: 0.69% Market Position: #15
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