- The Shiba token is again approaching staying below the conceptual round level of the $0.00010 mark (support).
- The SHIB token is trading below important EMAs such as the 20 and 50 inns on the daily price chart.
- The SHIB/USDT pair is trading slightly below 1% at 0.000000000362 Satoshis.
SHIB is trading inside a range, with significant resistance at $0.000014 and support at $0.00010. Price made a good rally attempt and made it to the center of the range. Once there, though, the bears gained control and pulled the bitcoin back towards support.
The Shiba token is once again on the verge of falling below the $0.00010 conceptual round threshold (support). If the price falls below this support level in any way, buyers may see another massacre.
In the context of the daily price chart, the bulls again failed to bring the Shiba Inu price above the Day Exponential Moving Average. Meanwhile, at the time of writing, the altcoin was trading at the $0.00000107 mark.
SHIB price is again going to rip a solid bearish candle over the weekend. Meanwhile, the market cap remains at $5.9 billion according to the CMC, with a slight decline of 0.5% over the past 24 hours. Besides, the SHIB/USDT pair is trading slightly lower than 1% at 0.000000000362 Satoshis.
Traders are facing continuous decreasing liquidation this week. Similarly, late night trading volume declined by 35%. However, SHIB token is trading below important EMAs such as the 20 and 50 inns on the daily price chart.
RSI shows sideways trend
After reversing from the oversold zone, the RSI indicator recently failed to hit the semi-line and started moving flat in the context of the daily price chart. Which suggests a sideways trend for the SHIB token.
conclusion
However, the bears again looked aggressive for selling near the 6-day low. Also the RSI indicator suggests a sideways trend for the SHIB token.
Support level – $0.000010 and $0.000009
Resistance level – $0.000020 and $0.000040
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
