SHIB Price Faces Potential Decline After False Breakouts Near Key Resistance Levels
Main Idea
SHIB price faces potential decline after false breakouts near key resistance levels, with technical indicators suggesting further downside risks.
Key Points
1. SHIB/USD pair declined by 3.89% over the past 24 hours, with a false breakout above the $0.00001375 resistance level failing to sustain.
2. Technical indicators suggest SHIB may retest the $0.000012 support level, with a critical support zone near $0.00001282.
3. Midterm outlook shows SHIB could face an extended correction, with potential downside targets between $0.000011 and $0.000012.
4. Bearish trend in SHIB aligns with broader crypto market weakness, influenced by profit-taking and risk-off behavior.
5. Near-term trajectory appears bearish, with key support levels and candlestick patterns indicating further downside risks.
Description
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