Shiba Inu Coin Set for Volatility as Price Nears Critical Technical Levels

The 4-hour chart for the Shiba Inu coin presents a mixed outlook, with key technical indicators revealing crucial insights into potential price movements. SHIB is currently trading close to significant support and resistance levels, which may play a pivotal role in its next directional move.

Recent closing prices for the Shiba Inu coin have seen a gradual decline, with the asset closing at $0.00001341 in the latest session. This downward trend is testing a critical support level at $0.00001339. Should this level fail to hold, further declines towards the next support at $0.00001320 could be anticipated. On the upside, immediate resistance is seen at $0.00001352, followed by stronger resistance at $0.00001371 and $0.00001385, which could cap any short-term rallies.

The 9 EMA is currently below the 20 EMA, indicating a bearish short-term trend. This crossover suggests that selling pressure is more dominant, and buyers may struggle to regain control unless the Shiba Inu coin price moves above the EMAs. The MACD further supports this bearish outlook, with its MACD line below the signal line, and the histogram turning negative, indicating weakening momentum.

Meanwhile, the RSI has recently dropped below the neutral 50 level, sitting around 34.68, suggesting that the Shiba Inu coin is nearing oversold conditions. While this could lead to a potential bounce in the short term, the overall trend remains bearish unless a strong recovery in momentum occurs. $SHIB #SHIB #Memecoins #altcoins The full analysis and trade strategy were posted on www.ecoinimist.com.