Beware! SHIB price is weak, and it faces a survival challenge under the double kill of 20/50-day moving average!
SHIB has not had a good time recently. It tried to rebound from the decline, but every time it rushed to the 50-day moving average, it was beaten back again. The rise is simply untenable.
Although there was a little bit of rising flames before, the price of SHIB was still soft and could not keep up with those important moving averages. It felt like it could not run.
From the daily chart, SHIB is like walking on a downhill road and stepped into a small ditch, sliding down all the time. However, fortunately, it found some strength at a place called $0.0000128, barely climbed out, and broke through the downhill road. But the good times did not last long. Once it reached the 50-day moving average, it was severely pressed back, and all the previous efforts were in vain.
Now, the price of SHIB is $0.0000137, and it has fallen by nearly 2% in the past 24 hours, which is really a headache.
Looking at the technical indicators, the 20-day and 50-day moving averages are slowly falling, which is not good news for SHIB. If the decline continues, the key support level will be between $0.0000132 and $0.0000128. If this level cannot be maintained, SHIB may have to fall further.
In addition, the relative strength index is also hovering around 47, which shows that people are neither optimistic nor pessimistic about SHIB now, but if it falls further, it will really be bearish.
Looking at the changes in trading volume, there are more sellers than buyers, which is not a good sign. However, if the trading volume suddenly increases one day, it may mean that the situation is about to change, but it is not the right time yet.
For those friends who speculate on SHIB, you have to keep an eye on the price of $0.0000132, which is the key to whether SHIB can stabilize. If it can be maintained, it may be able to struggle again; if it cannot be maintained, you can only be prepared for another wave of decline. Of course, if it can break through the resistance level of $0.0000155, SHIB may be able to turn over and sing, but it seems that it is not easy now.
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