๐ตShiba Inu price analysis
๐ Shiba Inu (SHIB) Struggles Below $0.000017
Shiba Inu (SHIB) plunged below the 78.6% Fibonacci retracement level of $0.000017 on June 24, firmly placing bears in control.
๐ป Bearish Momentum
Despite an attempted recovery on June 25, bullish momentum remains weak. Bears are poised to push the price below $0.000017 again. A successful breach could lead SHIB/USDT to decline towards $0.000014 and potentially $0.000010.
๐ Potential Recovery
For buyers to regain control, they must quickly propel the price back above the breakdown level of $0.000020. This move could pave the way for a rally towards the 50-day SMA ($0.000023).