Price Analysis View Non-AMP

Sell Trade Triggered for This Memecoin: Can ShibArmy Lift the Shiba Inu Price Above Bearish Heat?

Published by
Sahana Vibhute

In times when the Bitcoin price is displaying less strength, the markets have begun to consolidate. Besides, the memecoins are also plunging with a decent margin, suggesting thick bearish clouds hover over the crypto space, including Shiba Inu (SHIB). The latest price action has dragged the popular memecoin close to the pivotal support zone, which could be the last point of defence above $0.00002. 

After the latest sell-off, the trade set-up has slightly changed in favour of the bears as the sell-signals have been haunting the SHIB price rally. In the first few days of March, the platform witnessed a massive rise in buying pressure, which caused a 300% jump in the price. Unfortunately, a huge sell-off triggered that dragged the levels by more than 40%. While market participants expect a strong rebound, a bearish continuation may be imminent. 

The current trade set of Shiba Inu indicates the price is all set to test the local lows below $0.000019, as it did a few weeks ago. The RSI is heading towards the lower threshold without any bearish divergence. Besides, the Ichimoku cloud just turned bearish as the conversion line and the base line underwent a bearish crossover. Therefore, after a brief consolidation, the SHIB price is expected to break down into the key support zone between $0.00002107 and $0.00002157. 

As the price breaks down the range, it may drop to the local support levels at $0.0000188, but a rebound may not be expected in the near future. The technicals suggest the volume may remain consolidated within a range which could slash the volatility of the token. This could compel the price to remain accumulated within a range and once the price surges back within the pattern, a breakout beyond the resistance at $0.000025 may be imminent. 

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Recent Posts

This $0.025 Token Is on Track for a 3400% Run, According to Market Analysts

In a crypto market where many tokens are competing for visibility, only a few stand…

April 28, 2025

Here’s When Altcoins Will Rally

Crypto markets started the week with a bullish tone on Monday, with Bitcoin trading above…

April 28, 2025

Serum Price Prediction 2025, 2026, 2030: When Will SRM Price Revisit $13?

Story Highlights The live price of the SRM token is Serum coin price may reach…

April 28, 2025

US Recession Looming in 2025? Experts Warn the Trade War Could Push Us There!

The talk of a possible US recession in 2025 is getting louder, and it’s all…

April 28, 2025

BONK Price Prediction 2025, 2026 – 2030: Will BONK Price Hit $0.00010?

Story Highlights The live price of the BONK token is BONK coin price may reach…

April 28, 2025

Congress Struggles to Meet Trump’s August Deadline for U.S. Crypto Regulation

As lawmakers return to Capitol Hill after a two-week recess, crypto legislation is at the…

April 28, 2025