Shiba Inu (SHIB) has decisively broken below its 50-day Exponential Moving Average (EMA) positioned near $0.00001223, triggering renewed bearish momentum across markets. This technical breakdown signals potential continuation of the current downtrend and opens pathways for further price depreciation.
The Relative Strength Index (RSI) reinforces the negative outlook, hovering below the neutral 50 threshold and approaching oversold levels. This confirms weakening buying support and accelerating selling enthusiasm amid sustained bearish pressure. Trading volume patterns validate the downward move, indicating strengthening conviction among sellers.
Critical attention now focuses on the $0.00001100 support level. Historical patterns suggest that failure to hold this floor risks initiating extended downward trajectories, mirroring previous prolonged declines following breakdowns below major moving averages. Technical analysts caution that SHIB remains vulnerable to intensified selling unless momentum reverses.
Market participants are advised to monitor support thresholds vigilantly and exercise caution when considering new positions. Experts recommend waiting for a confirmed recovery above the 50-day EMA before increasing portfolio exposure to SHIB. The current technical landscape underscores heightened near-term risk as bearish sentiment dominates price action.