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After failing to break through a crucial resistance level, Shiba Inu has experienced a notable reversal around the $0.00015 level. Since then, the price has reversed course and is now closer to the $0.000013 threshold, which increases the chance of SHIB going downhill. That being said, it is crucial to remember that SHIB is still in a sideways trend because the market's selling pressure has significantly decreased.
The inability of bulls to maintain momentum above $0.000015 suggests that they may be losing ground, and further declines in SHIB could occur if there is insufficient buying interest. Indecisiveness among traders is reflected in the current market environment, which lacks clear movement in either direction.
This is critical support as long as SHIB remains near $0.00013. In the event that it breaks, there may be a chance for a deeper correction that tests lower support levels. However, should SHIB manage to hold this level and buyers intervene, it may lay the groundwork for a subsequent attempt to breach the $0.000015 resistance.
Tomiwabold OlajideThere are three crucial price points to pay particular attention to:
$0.000015: This level has shown itself to be a major obstacle. Should this be broken, a bullish reversal may be indicated, which could result in more robust upward pressure.
$0.000013 (Support): SHIB needs to stay in its sideways trend in order to stay above $0.000013, which currently serves as a crucial support level. Should there be a breach below this, the downtrend may continue.
$0.000011: The next important support to watch is $0.000011 - if selling pressure increases and SHIB breaks below $0.000013. This would be a crucial point at which purchasers might attempt to stop further drops.
Tomiwabold Olajide
Gamza Khanzadaev