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After a 25% monthly loss, SHIB could fall much lower

                                                            Nachdem das kritische Unterstützungsniveau nicht aufrechterhalten werden konnte, stürzte der native Token von Shiba Inu ab und ist auf dem Weg, ein neues lokales Tief zu setzen.

Key support level: $0.000017

Key Resistance Level: $0.000020

The support at $0.000020 turned into a solid on Saturday Resistance, and today’s price action confirmed the breakdown with another red daily candle. The next key support stands at $0.000017 and SHIB might find some temporary relief along the way if the support level is reached.
After a 25% monthly loss, SHIB could fall much lower, Crypto Trading NewsChart from TradingView

Technical indicators

trading volume: The volume decreased as the price fell. In general, this is a bullish signal, but given the overall bearish market conditions, it is better to wait for a reversal confirmation.

RSI: The daily RSI is rapidly closing back in the oversold zone (below 30 points). The last time it got there, the price of SHIB rose higher from that area.

MACD: The daily MACD is declining and selling momentum is increasing, as opposed to volume. As long as this continues, a reversal for SHIB is unlikely to materialize.
After a 25% monthly loss, SHIB could fall much lower, Crypto Trading NewsChart from TradingView

bias

The bias towards SHIB is bearish.

Short term prediction for SHIB price

Indicators are painting a rough short-term future for SHIB and the price is likely to retest $0.000017 before any potential bounce. Best to be patient for SHIB to find a local bottom before jumping in.

Source: Crypto News Deutsch

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