Shiba Inu price The move has grappled with some significant selling pressures, as has the cryptocurrency market as a whole. Bears continue to put pressure on SHIB, which is down more than 80% from its all-time high.
Shiba Inu Price Likely to Create Support Between $0.000016 and $0.000020
Shiba Inu price action has rejected previous signals that a bullish reversal may occur. In early January, there was some evidence that SHIB could push for a field test of $0.0000050, but these estimates have been dispelled.
From the perspective of Ichimoku Kinko Hyo, Shiba Inu’s upcoming support on the daily chart is zero. Shiba Inu (SHIB) price is below Cloud (Cloud: Senkou Span A and Senkou Span B), Tenkan-Sen and Kijun-Sen. Future Senkou Span A is below Future Senkou Span B and Chikou Span is located in open area under candles.
To summarize, inside the Ichimoku system on the daily chart, SHIBA is in price exploration mode and has a free hand to move lower.
meme coin The nearest Ichimoku support level is on the weekly Ichimoku chart. Senkou Span A at $0.000007 is the nearest Ichimoku support level for Shiba Inu price. However, a big jump can occur at any time. The Daily Composite Index hit all-time lows. At the same time, the Relative Strength Index is just above the first oversold level in a bear market at 30.
Shiba Inu price will need a daily close above Tenkan-Sen, Kijun-Sen and Control Volume Point to get any hint that this current downtrend is ending. A close at or above $0.000028 will invalidate any further short-term bearish outlook.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.