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Key Support level: $0.000023
Key Resistance levels: $0.000028
SHIB fell below the critical level at $0.000028, which has now turned into resistance. The next support is found at $0.000023. The current downtrend in price is unlikely to stop until SHIB reaches the key support.
Technical Indicators
Trading Volume: The volume remains low and gives no indication of recovery. Sellers have dominated the chart so far.
RSI: The daily RSI fell under 50 points and is making lower lows and lower highs. This is a clear bearish sign.
MACD: The daily MACD completed a bearish crossover yesterday. This may be the start of a more significant correction.
Bias
The bias on SHIB is bearish.
Short-Term Prediction for SHIB Price
At this point, it looks like there’s a possibility to see SHIB reach $0.000023 in the near future as the price searches for support. The current trend is bearish, and this is likely to continue for a while, considering the MACD crossover.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.