SHIB shows a weakening signal and can correct itself further
- Major support level: $ 0.000055; $ 0.00044
- Key Resistance: 0.000063 $
SHIB’s rebound from last week’s decline has been dramatic, but the bulls have been unable to push the price above the critical resistance at $ 0.000063. The bears are back trying to push the price below $ 0.000055 to take control.
12-hour SHIB / USDT chart | Source: TradingView
Technical indicators
Volume: The volume when price bounces off the support area is huge in contrast to the current decline. This indicates strong demand at a lower level.
RSI: The RSI continues to decline and make a lower high. This shows that the bullish momentum has been lost and the correction may continue for some time.
MACD: The MACD is decreasing and is about to cross the negative zone. A sign of weakness.
Daily SHIB / USDT Chart | Source: TradingView
Perspectives
While demand remains strong at lower levels, price movements and technical indicators suggest that the upward momentum has lost momentum. Hence, SHIB may drop below the $ 0.000055 support and drop to the nearest support at $ 0.00044.
After that, it is expected to be somewhere between $ 0.00044 and $ 0.000063.
You can see the price of EGLD Here.
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
SN_Nour
According to Cryptopotato
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Author
Market
SHIB shows a weakening signal and can correct itself further
- Major support level: $ 0.000055; $ 0.00044
- Key Resistance: 0.000063 $
SHIB’s rebound from last week’s decline has been dramatic, but the bulls have been unable to push the price above the critical resistance at $ 0.000063. The bears are back trying to push the price below $ 0.000055 to take control.
12-hour SHIB / USDT chart | Source: TradingView
Technical indicators
Volume: The volume when price bounces off the support area is huge in contrast to the current decline. This indicates strong demand at a lower level.
RSI: The RSI continues to decline and make a lower high. This shows that the bullish momentum has been lost and the correction may continue for some time.
MACD: The MACD is decreasing and is about to cross the negative zone. A sign of weakness.
Daily SHIB / USDT Chart | Source: TradingView
Perspectives
While demand remains strong at lower levels, price movements and technical indicators suggest that the upward momentum has lost momentum. Hence, SHIB may drop below the $ 0.000055 support and drop to the nearest support at $ 0.00044.
After that, it is expected to be somewhere between $ 0.00044 and $ 0.000063.
You can see the price of EGLD Here.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
SN_Nour
According to Cryptopotato
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
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