Shiba Inu (SHIB) The price action is forming a death cross pattern as the 55-day Simple Moving Average (SMA) breaks below the 200-day SMA. The death cut pattern is also known as the price signaling extreme decline. Russia’s expansion of military operations into the capital, Kiev, could plunge crypto markets into a bear market, and investors will continue to be nervous over the weekend over what Putin plans to do next.
SHIB can host dips as low as $0.00000607, down 72%, and you can set your investment strategy by waiting for the price action to weigh more.
Shiba Inu price The move lost limited action after other cryptocurrencies took a heavy hit. SHIB managed to limit the initial 16% loss to just 4% at the close. But as this morning signals that the Russian army is ready to seize the capital and possibly finish the offensive today, the bulls seem unsure of what to do.
SHIB bulls will back off as the bearish signal from the 55-day SMA crossing below the 200-day SMA is a sign to be respected. Bulls should not be patient and wait for the appropriate level to enter for a long time if they do not want to be harmed. Like this, SHIB priceIt could drop to $0.00001500 or below $0.000001000 with the monthly S1 support above a possible bounce point and go to $0.00000655 with the monthly S2 support, a historical level and the Fibonacci level close together.
Once the bulls are able to push the price action above the monthly pivot at $0.00002500, you can expect the death cross to be removed as the 55-day SMA rises above the 200-day SMA. If the market mood is this positive, expect the buying rate to accelerate further above $0.0002782 with an increase towards $0.000003000. This will mean around 20% of the gains possible in these highly volatile and challenging times.
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.