After drowning within a deep well, the crypto space is currently attempting to get back on track very soon. However, the bears appear to be well in place and hence they are leaving no stones unturned to drag down the price. The Shiba Inu price also is going through a lot of hurdles which at present does not appear to get diluted in the short-term. Yet, still, the probability of a notable uptrend can still be expected when the price reaches some pivot levels.
SHIB price after breaking the strong support levels is plunging heavily at a larger pace and showing no possibilities of a notable rebound. Despite hovering within a notable downtrend, yet the asset is still in a good position well above the strong support levels. And hence one can expect a healthy rebound if there is a large influx of volume at once.
- The SHIB price fails to test the pivotal levels that reside at 200-day MA around $0.00003665
- Further, the price is sliding down deep yet bounced from the local support levels at $0.00003455
- However, slicing through the immediate resistance may still not be a strong case for an uptrend, until and unless the asset surpasses the $0.00003903 levels to surge beyond $0.0000400.
- The selling volume appears to be at the peak right now and the buyers might have been coolly waiting for a good opportunity to get in
- The SHIB price could continue to swing within the same levels for some more time until it encounters the buy zone where-in buyers and bull may enter the ring
Indicators & Pivotal Points
|Indicators & Pivot Points||Value (1Hr / 1D)||Action (1Hr / 1D)|
|Relative Strength Index(RSI)||40.57 / 41.13||Sell / Neutral|
|MACD||0.00 / 0.00||Neutral / Neutral|
|Resistance||$0.00003718 / $0.00004680||–|
|Support||$0.00003477 / $0.00002440||–|
|Moving Average(MA) – 50||$0.00003676 / $0.00002200||Sell / Sell|
|Moving Average (MA) – 200||$0.00003645 / $0.00002180||Sell / Buy|
Overall, the SHIB price appears to be completely bearish with depleted pivot levels. The indicators are either neutral or pointing out towards a neutral signal. On the other hand, the resistance in the short term and the support levels are not much distinct. Therefore pointing out towards a stagnant, downtrend awaiting ahead for the Shiba Inu price.