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SHIBA INU price prediction: bullish divergence on the daily chart

 


The SHIBA INU price continues its downward trend. But now a massive bullish divergence is emerging in the daily chart. Is the SHIB price rising now?


SHIB price shows bullish divergence on daily chart

SHIBA INU price could be rising now as it shows bullish divergence on daily chart's RSI and histogram of MACD. In addition, the MACD histogram is already ticking bullishly higher, while the MACD lines could soon cross bullishly.


SHIBA INU finds first significant Fibonacci resistance at 0.00001 BTC. That implies upside potential of around 23%.


If the SHIBA INU price breaks the 0.382 Fib level at around $0.00001, it could even rise to the golden ratio at just under $0.0000119.


SHIBA INU price trend remains clearly bearish

However, SHIB's trend remains clearly bearish. In fact, SHIB would need to rally around 630% to reach the golden ratio around $0.00006. Excluding the bullish break of the golden ratio around $0.00006, the trend remains bearish.


In addition, the SHIB course is already expecting significant Fibonacci resistance around 370% above the current price level.


Still, this week the histogram is ticking bullishly higher and the RSI is beginning to reach oversold regions.


SHIB price may return for support

Despite the near-term bullish outlook, SHIB could return to support between $0.000005 - $0.0000625 in the medium term.

Rival Dogecoin has now broken the USD 0.074 – USD 0.087 support, which means DOGE could now correct to USD 0.009 – USD 0.019 support.


In addition, the MACD in the monthly chart is clearly bearish, because the histogram is ticking bearishly lower and the MACD lines remain bearishly crossed.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action that the reader takes based on the information found on our website is entirely at their own risk.

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