Sellers continue to dominate and push SHIB to new lows. 😱

Key Support Level: $0.000014

Key Resistance Level: $0.000018

1. SHIB Hits New Low

Selling pressure increased, and buyers were unable to sustain SHIB above $0.000018, which has now turned into key resistance. This price drop creates a new low that confirms the downtrend. Buyers are absent and they will probably only return when SHIB reaches the current support at $0.000014.

2. Bearish Indicator

The last four weekly candles are red, indicating that sellers dominate. This is also reflected in the bearish momentum indicator. Moreover, the daily RSI is oversold below 25 points, a level not seen since the 2023 bear market.

3. Bearish Momentum Increases

Weekly MACD clearly shows that selling pressure is increasing. The histogram makes new lows, and the moving average is in free fall. There are no signs of a possible reversal, and this bearish momentum could continue for some time.

Why did the price of Shiba Inu (SHIB) fall today? Come on, give your opinion in the comments column! 🚀