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Bearish Divergence Appears on SHIB Chart; Good Time To Sell?

Shiba Inu rallied by 31%, together with other altcoins in the market.The price of SHIB now finds itself at a resistance level of $0.0000104.Technical analysis suggests that the...
Bearish Divergence Appears on SHIB Chart; Good Time To Sell? Bearish Divergence Appears on SHIB Chart; Good Time To Sell?

    • Shiba Inu rallied by 31%, together with other altcoins in the market.
    • The price of SHIB now finds itself at a resistance level of $0.0000104.
    • Technical analysis suggests that the price of SHIB may correct as a bearish divergence form on the chart.

Together with several other altcoins, Shiba Inu (SHIB) posted a decent gain for the first time in a while as its price rallied slightly. However, it seems the rally has ended around a resistance level, which ultimately could lead to a retracement for SHIB.

On June 21, SHIB’s price rallied by 31%. Other altcoins, such as Synthetix (SNX), Storj (STORJ), and Dogecoin (DOGE), to name a few, also rallied during this period.

Furthermore, the Relative Strength Index (RSI) SHIB produced higher lows while the price produced lower lows between May 12 and June 13 — creating a bullish divergence. This is what saw the price of SHIB rally the way that it did. However, this bullish move now faces a threat from two directions.

Firstly, SHIB’s price is struggling to rise above the $0.0000104 hurdle. A rejection at this level could ignite a 17% descent to around $0.0000095. Meanwhile, SHIB also produced lower highs between May 30 and June 21 and the RSI created higher highs.

This setup with the RSI and SHIB’s price is a bearish divergence, which further strengthens the argument that there may be a 17% downwards move and a retracement in general. Therefore, investors need to pay close attention to what SHIB’s price does today.

4-hour chart for SHIB/USDT (Source: TradingView)

Although SHIB’s situation looks bullish at the moment, investors need to pay close attention to the RSI on the 4-hour chart. A bearish divergence has appeared on the indicator, which suggests that there may be a correction. Should SHIB’s price close today’s daily candlestick above the $0.0000104 level, the price of SHIB could further rally by 33% to target $0.0000139.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.

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27-06-2022 20:50:27 (UTC+7)

EUR/USD

1.0582

+0.0028 (+0.27%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (2)

Sell (5)

EUR/USD

1.0582

+0.0028 (+0.27%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (2)

Sell (5)

GBP/USD

1.2285

+0.0024 (+0.19%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (0)

USD/JPY

135.07

-0.10 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

AUD/USD

0.6934

-0.0014 (-0.21%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (6)

USD/CAD

1.2912

+0.0019 (+0.15%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

EUR/JPY

142.92

+0.26 (+0.18%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (8)

EUR/CHF

1.0135

+0.0026 (+0.25%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Gold Futures

1,830.50

+0.20 (+0.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (5)

Silver Futures

21.297

+0.138 (+0.65%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Copper Futures

3.7502

+0.0057 (+0.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Crude Oil WTI Futures

106.27

-1.35 (-1.25%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

Brent Oil Futures

108.17

-0.93 (-0.85%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Natural Gas Futures

6.145

-0.136 (-2.17%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (6)

US Coffee C Futures

221.00

-2.25 (-1.01%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (6)

Euro Stoxx 50

3,527.55

-5.62 (-0.16%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

S&P 500

3,893.73

-18.01 (-0.46%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

DAX

13,135.20

+17.07 (+0.13%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

FTSE 100

7,236.65

+27.84 (+0.39%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Hang Seng

22,229.52

+510.46 (+2.35%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

US Small Cap 2000

1,754.80

-7.66 (-0.43%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (9)

IBEX 35

8,187.50

-56.60 (-0.69%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (6)

BASF SE NA O.N.

42.510

+0.295 (+0.70%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

Bayer AG NA

58.95

+1.16 (+2.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Allianz SE VNA O.N.

180.78

-0.42 (-0.23%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (8)

Adidas AG

172.03

+1.67 (+0.98%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (7)

Deutsche Lufthansa AG

5.968

+0.002 (+0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Siemens AG Class N

103.68

+1.06 (+1.03%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (8)

Deutsche Bank AG

8.822

-0.097 (-1.09%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (6)

 EUR/USD1.0582Sell
 GBP/USD1.2285↑ Buy
 USD/JPY135.07↑ Sell
 AUD/USD0.6934↑ Sell
 USD/CAD1.2912↑ Buy
 EUR/JPY142.92↑ Sell
 EUR/CHF1.0135↑ Sell
 Gold1,830.50↑ Sell
 Silver21.297↑ Sell
 Copper3.7502↑ Sell
 Crude Oil WTI106.27↑ Sell
 Brent Oil108.17↑ Sell
 Natural Gas6.145↑ Sell
 US Coffee C221.00↑ Sell
 Euro Stoxx 503,527.55↑ Sell
 S&P 5003,893.73↑ Sell
 DAX13,135.20↑ Sell
 FTSE 1007,236.65↑ Sell
 Hang Seng22,229.52↑ Sell
 Small Cap 20001,754.80↑ Sell
 IBEX 358,187.50↑ Sell
 BASF42.510↑ Sell
 Bayer58.95↑ Buy
 Allianz180.78↑ Sell
 Adidas172.03↑ Sell
 Lufthansa5.968↑ Sell
 Siemens AG103.68↑ Sell
 Deutsche Bank AG8.822↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,775/ 6,845
(15/ 5) # 1,667
SJC HCM6,790/ 6,860
(5/ -5) # 1,683
SJC Hanoi6,790/ 6,862
(5/ -5) # 1,685
SJC Danang6,790/ 6,862
(5/ -5) # 1,685
SJC Nhatrang6,790/ 6,862
(5/ -5) # 1,685
SJC Cantho6,790/ 6,862
(5/ -5) # 1,685
Cập nhật 27-06-2022 20:50:29
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EUR23.932,6125.273,13
GBP27.815,2929.001,83
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KRW15,5718,97
Cập nhật lúc 18:53:21 27/06/2022
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