- Shiba Inu (SHIB) Investor interest seems to have lost its interest as its price consolidated well below $0.00001708.
- As SHIB price puts pressure on a new low for 2022, the price is also seeing a decline.
- The failed defense at $0.00001000 could result in a correction back to $0.000000507.
Shiba Inu (SHIB) price is currently far from the key $0.00001708 key level to make a strong comeback. Another downside risk is that price action is expected to consolidate at current levels, just above $0.000001000, before rebounding to break the price action and trigger another drop in value.
SHIB price could drop below $0.000001000 and trigger a crisis of confidence among investors, eventually losing 60% to trade at $0.00000507.
Shiba Inu Must Earn Investors’ Trust
Shiba Inu price looks set to close the week with a fifth consecutive loss. The realization of this will cause the interest of investors and traders to decrease as well. The biggest reason for this is that the SHIB price did not react in any way while the signs of a recovery were seen in the markets.
You can expect to see more equity fund outflows by making the price action less supportive and possibly triggering a falling blade soon.
SHIB price still has big $0.0000000 on the side and supports price action to consolidate above for now. But what geopolitical issues and bearish risks hold and unresolved issues are placing too many question marks around the safe path and increasing the threat in price.
Uncertainty in the markets can create unpredictable movements in the SHIB price and as a result traders start to lose their confidence and may trigger another test at least at the psychological level of 0.000010000. If this level is broken again, investors will not want to keep the losses in their investments and will look for alternatives. This could create a 50% loss of SHIB price towards $0.00000507.
An important factor that will reduce the effect of the decline depends on the stability in the markets, as well as the ‘dove’ comments from central banks such as the FED or BOE.
This confidence could trigger a quick reversal as SHIB price returns to $0.00001500 and the bulls can put pressure on the red descending trendline to create a breakout from the descending trendline and 0, before attempting to push higher to $0.000002100 and testing the 55-day Simple Moving Average. It could touch $00001708 and this represents the upper limit for now.
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.