Shiba Inucoin (SHIB) has been on a rollercoaster ride over the past week, with the price retreating after breaking through a key resistance level. Investors are wondering if the Shiba Inu price can hold onto its recent gains or if it will fall further.
Key support levels:
$0.000017: This level has stopped SHIB’s recent decline but has failed to provide strong support.
$0.000012: This is a psychologically important level, which if broken could trigger further declines.
Technical indicators:
Relative Strength Index (RSI): The RSI is currently in the neutral zone, indicating mixed sentiment.
Moving Average Convergence Divergence (MACD): The MACD lines are crossing negatively, indicating bearish momentum.
Analysts’ view:
Some analysts believe that SHIB needs to break above $0.000023 to resume the strong uptrend.
Others are more cautious and believe that the price could fall further to the $0.000012 support level or even lower.
Overall, the short-term outlook for Shiba Inu prices is mixed. Investors should closely monitor price action and key technical indicators to make informed trading decisions.
