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Is SHIB facing critical support, correction or even more bloodbath?

                                                            <strong>Schlüsselunterstützungsstufe: 0,000030 $ </strong>

Key Resistance Level:: $ 0.00034

SHIB has finally hit the USD 0.000030 support level that has the best chance of reversing the current downtrend. This is because this level is the previous one All time high was from October and should act as a strong support.

In addition, the downtrend forms an ending diagonal wave with converging lines based on the Elliot wave theory (see in blue). A fraction from this triangle can increase the price up to resistance at $ 0.00034 and set off a significant rally.
Chart according to TradingView

This is what awaits you in this article

Technical indicators

Trading Volume: The volume is during this correction stayed low. However, a turnaround should bring buyers back quickly if they look at past price action.

RSI: The RSI is making higher lows in the 12 hour timeframe. However, this is not yet the case in day-to-day business. This suggests that SHIB could consolidate above key support before attempting a rally.

MACD: The daily MACD has not yet made a bullish crossover. However, this can be done at any time should volatility return to the SHIB as the MACD moving averages are very close together.
Is SHIB facing critical support, correction or even more bloodbath?, Crypto Trading NewsChart according to TradingView


The tendency towards SHIB is neutral. A break above the major resistance can make the bias bullish, while a break below it will be bearish.

Short term forecast for SHIB price

The correction in SHIB has lasted for nearly two full months, and the price has fallen over 60% from the all-time high of $ 0.000088. Because of this, it is likely that the downtrend will reverse soon and a recovery rally can be expected.


Source: Crypto News Deutsch

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