According to CryptoPotato, Shiba Inu's price has broken below its previous support and is making lower lows. The key support level is at $0.0000065, while the key resistance level is at $0.0000071. The price took a nosedive as soon as the support at $0.0000071 was lost, turning this level into resistance. Buyers have retreated at $0.0000065, which will act as the next key support.
The price action is bearish with new local lows, and a test of the support at $0.0000065 appears likely. Momentum indicators also show weakness with no signs of a possible reversal at this time. The 3-day RSI has consistently remained under 50 points and has been making lower lows since August. As long as this trend continues, sellers will dominate the price action. Buyers might become interested as the RSI approaches 30 points.
The bias for Shiba Inu is bearish, and a test of the support at $0.0000065 appears inevitable if sellers continue to hold a tight grip on the price. It will be interesting to see how the price performs over the coming week.
