With sellers in full control of the price action, SHIB is struggling to find support.
Key Support levels: $0.0000070, $0.0000064
Key Resistance levels: $0.0000075
With the support at $0.0000075 broken and turned into resistance, Shiba Inu made a new low. This intensified the downtrend and put sellers in charge again. SHIB seems likely to make new lows if buyers don’t return soon.
The price found some relief on the support at $0.0000070, but considering the bearish momentum, it would be surprising if this level holds. If not, look for a possible reversal of this downtrend at the $0.0000064 support level, which managed to stop sellers back in June.
While the daily MACD gave hopes of a possible reversal last week, this was quickly erased as soon as SHIB made a new low. Bearing that in mind, the 3-day MACD is now firmly on the bearish side and accelerating down.
The bias for SHIB is bearish.
Watch closely the support levels at $0.0000070 and $0.0000064. They are the most important levels on the chart right now, with the latter support level having the best chance of stopping this downtrend.
The post How Low Can SHIB Go? This Support Has to Hold (Shiba Inu Price Analysis) appeared first on CryptoPotato.
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]