👀 According to U.Today: $SHIB Needs Some Help

SHIB is under tremendous pressure to hold ground above the 50-day EMA line. Presently, its price straddles just above this support and is running dangerously close to the wire. At the first sign of significant selling pressure, it might pierce right through this level, ushering in a more substantive drop. With SHIB so far below the 100-day EMA line and the 200-day EMA line, neither of these long-term indicators is going to be helpful in offering much support. The RSI is in the bearish zone below the level of 50, suggesting that SHIB lacks buying strength and may thus continue to drift lower until a major positive trigger arises.

SHIB needs to regain and retain its 50-day EMA for it to come back to a stable state, and in an ideal scenario, it would do this on an expanding trading volume. The next resistance levels to watch would be the 100-day EMA around the $0.000027 and 200-day EMA around the $0.000029, where breaking through these levels would mean that we could possibly get a reversal of the present downtrend.