$SHIB As per our Teams analysis Shiba Inu (SHIB) has failed to break through a key resistance level, leading to a reversal in its recent bullish trend. The key points are:
- SHIB has retraced from $0.000017 and is currently trading at $0.00001608, indicating a decrease from its recent peak.
- The 50 EMA has acted as significant resistance, preventing SHIB from maintaining its upward trend.
- Investor sentiment has turned bearish due to the failure to overcome this resistance level.
- Technical indicators, such as the RSI (40) and decreasing trading volume, support a bearish outlook.
- The asset may be vulnerable to a 13% decline, with potential support levels at $0.000015 and $0.000014.
Overall, the analysis suggests that SHIB's recent price increases were not supported by strong market activity, and the lack of buyer interest may lead to further declines.
