The Shiba Inu (SHIB) cryptocurrency is showing a death cross formation on its short-term charts, signaling a downtrend. The selling pressure on SHIB has led to a seven-day downtrend that started on July 27. On the four-hour chart, a drop below the 50-period moving average (MA) is considered a clear bearish signal.
The cryptocurrency market is focused on Shiba Inu (SHIB) after seven days of continuous declines. This downward movement, which began on July 27, led to the formation of a death cross on the four-hour chart of SHIB. In this formation, the 50-period moving average has crossed below the 200-period moving average, which is generally considered a sign of a bear trend. Now, traders and analysts are looking at other technical indicators in an attempt to predict a possible rally or further decline in the price of SHIB.
The death cross on the four-hour chart suggests that short-term bearish momentum in Shiba Inu is strengthening. Traders are watching market signals closely, looking for a potential reversal signal. In addition to the death cross, other analytical tools are used to assess market sentiment and predict future price movements. The focus on these metrics suggests that there is a high degree of uncertainty and many traders are being cautious.
The current price action for Shiba Inu is part of a broader cryptocurrency market trend. Due to macroeconomic factors and changing investor sentiment, many crypto assets are experiencing increased volatility. Increased regulatory oversight, inflation concerns, and global economic uncertainties have led to significant market volatility that has affected other major cryptocurrencies besides SHIB.
Despite the current bear trend, Shiba Inu has the potential to rally. A decisive break above the daily 50-period and 200-period moving averages at $0.000017 and $0.0000202, respectively, could signal a bullish reversal. Such a breakout could help SHIB break out of its current trading range and potentially attract new investors. Additionally, a temporary pullback from bearish positions could set up a temporary relief rally.
If the downtrend continues, Shiba Inu’s key support levels will play a critical role. On-chain analysis suggests that the next major support level is between $0.000008 and $0.000014. The intermediate support level is $0.0000126, which is where SHIB’s sharp recovery took place in early July. These support levels are important in estimating SHIB’s potential bottom and may provide hope to long-term investors despite the bear trend.
FOR THE GIFT OF 10 DOLLARS PLEASE READ CAREFULLY.
My friends, you know that we, the publishers, are doing everything we can for you here. We are conveying to you the services and conveniences that our authorities have provided us. I have never withdrawn my support for both the cryptocurrency market and you, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE ESPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION OF WHAT I HAVE SAID ABOUT THIS ISSUE BY CALLING LIVE HELP. IT IS A 10 DOLLAR CAMPAIGN MADE FOR YOU THROUGH ME.
Now I will explain how you will receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who can benefit?
Our friends who have not yet activated the futures section, when you activate your FUTURES transaction section, you will earn $10 when you open it by entering my 88623008 reference code.
I EXPLAIN IN DETAILED.
My brothers and sisters who have become Binance members without a reference, please listen carefully;
When you do what I say in order, you will receive 10 USDT.
Go to the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward until MAY 1 can do so. Afterwards, after activating your account, it is enough to open your first futures transaction.
The first 1,000 brothers who open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this; even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
Even if you do this after May 1st, your reward will not come. So, do it until May 1st. In fact, I would say do it right now in 5 seconds.
It's very simple. Go to futures, enter my 88623008 referral code and activate the account. Then just open a transaction of 200 usdt in total and get the 10 usdt reward.
WHEN WILL THE REWARD COME?
Your $10 reward will come to the REWARDS section of your Binance application within 30 days from May 1. By activating it from there, you can use your $10 reward, or more than 300 lira, in futures transactions.
You can share this post with your friends in need so that they can also benefit from it.
IN THE MEANWHILE, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. EVEN IF YOU HAVEN'T FOLLOWED US YET, DON'T FORGET TO FOLLOW US. WITH MY REGARDS.
