🚨 Shiba Inu (SHIB) Price Prediction Alert! 🚨
SHIB has seen a dramatic reversal of its 2024 gains, with a significant drop of over 71.69% from its peak of $0.00004567. 📉
🔍 Current Trend: SHIB was trading within a bullish symmetrical pattern, but the outlook is now more bearish. Despite a recent bounce off the support level at $0.00001266, the buying pressure isn't strong enough to break the upper resistance line. 🚫
📊 Possible Targets: If SHIB fails to breach the resistance, we might see prices drop to:
$0.00001078 🟥
$0.00000822 🔴
(erasing gains from February-March)$0.00000655 ❗
📉 Key Indicators:
Open Interest: Fell from $26.41M to $24.99M – signaling potential reversal.
📉Exchange Netflows: Positive flows suggest investors are moving SHIB to exchanges, hinting at selling pressure.
🔄Active Addresses: Increased activity correlates with more selling. 📉
📈 Bearish Signals:
Aroon Indicator: The Aroon Down line is above the Aroon Up line, indicating bearish momentum.
📉Money Flow Index (MFI): Currently at 39.3
3, trending south, indicating moderate selling pressure. ⚠️
Overall, the sentiment is bearish and SHIB could face further declines. Keep an eye on these indicators and manage your investments accordingly! 💹🚀
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