The most important factor for Shiba Inu to rebound is whether the $0.0000017 support level can be maintained. Bitcoin's (BTC) current bear trend has dampened overall market optimism and impacted SHIB's recovery prospects. In particular, the Relative Strength Index (RSI) is below 30 and the Chaikin Money Flow (CMF) is at -0.14, indicating significant bear momentum and increasing capital outflows, making recovery difficult.
Important Support and Resistance Levels
Recently, Shiba Inu breached its ten-week price range and crossed a significant threshold at $0.00002. The 78.6% Fibonacci retracement level at $0.0000172 is facing significant selling pressure. If SHIB closes below this critical level, a decline towards the 100% retracement level will become more likely and the price could drift to an important psychological level of $0.00001.
Strategic Insights for Investors
Investors should carefully consider the following points:
Critical Support Level: Watching the $0.0000017 level is essential for a possible recovery.
Resistance Level: Failure to stay above $0.0000172 could trigger further price declines.
Technical Indicators: Key technical indicators such as RSI and CMF predict ongoing bear pressures.
Trading strategies should consider potential pockets of liquidity around $0.00003, and these levels could signal trend reversals.
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