SHIB Drops 3.9% to Support Level of $0.058667
- Price Decline: SHIB's price fell by 3.9% to $0.058688, just above the support level of $0.058667, indicating a weak market sentiment that could impact investor confidence in the short term.
- Market Correlation: The decline in SHIB's price, alongside BTC and ETH, has strengthened its correlation with overall market trends, suggesting that the broader cryptocurrency market's weakness may continue to exert pressure on SHIB.
- Concentrated Trading Activity: Trading activity for SHIB is primarily concentrated near the support level, indicating a balanced interaction between buyers and sellers, which lacks strong directional momentum and may lead to narrow price fluctuations in the short term.
- Market Monitoring: Market participants are closely monitoring whether SHIB can maintain its position above the support level of $0.058667; failure to do so could trigger further selling pressure, affecting overall market sentiment.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB) As of , Shiba Inu (SHIB) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000307 | 0.00000407 | 0.00000524 | 0.00000624 | 0.00000741 | 0.00000841 | 0.00000958 |
| Fibonacci | 0.00000407 | 0.0000049 | 0.00000541 | 0.00000624 | 0.00000707 | 0.00000758 | 0.00000841 |
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