Shiba Inu (SHIB): Biggest Loss of This Summer
Main Idea
Shiba Inu (SHIB) experienced a significant price breakdown, failing to hold key support levels and potentially facing further declines.
Key Points
1. SHIB initially appeared to hold above important moving averages but confirmed a breakdown below the 50 EMA.
2. Currently trading at around $0.00001223, SHIB is close to another structural support level, with potential for further decline to $0.00001100 or lower.
3. Volume dynamics are weak, and the RSI is approaching oversold territory, indicating a bearish short-term outlook.
4. Unless bulls act quickly, SHIB's price may continue to struggle in a choppy market.
Description
Shiba Inu just saw massive drop that put it back into bearish market due to drop below 50 EMA
$SHIB
$0.000012156
-0.69%
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