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SHIB crashes 15% every week, but how low can it go? (Shiba Inu price analysis)

                                                            <strong>Schlüsselunterstützungsstufe:</strong> 0,000020 $, 0,000017 $

Key Resistance Level: $0.000028

SHIB failed to recover and returned to the key support at $0.000020, which has so far managed to save the price from a significant drop. Historically, this level has held strong and managed to push SHIB higher to the key resistance at $0.000028.

Indicators remain bearish on higher timeframes and bulls have a tough job trying to stave off selling pressures.
SHIB crashes 15% every week, but how low can it go?  (Shiba Inu price analysis), Crypto Trading NewsChart from TradingView

Technical indicators

trading volume: Volume remains low and at the time of this post seems to favor bears as they have dominated the chart for the past month.

RSI: Daily RSI is making lower lows and has yet to hit the oversold area at 30 points. This suggests that SHIB could continue falling until a bottom is found.

MACD: Daily MACD is bearish but selling momentum seems flat for the past few days. The big question is will the bulls attempt a reversal here.
SHIB crashes 15% every week, but how low can it go?  (Shiba Inu price analysis), Crypto Trading NewsChart from TradingView

bias

Bias on SHIB is somewhat neutral while price holds above key support, but indicators are not inspiring confidence for bulls.

Short term prediction for SHIB price

SHIB bulls need to defend $0.000020. Otherwise this would be a big problem and could die cryptocurrency continue to push towards $0.000017.

Source: Crypto News Deutsch

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