📢Potential Reversal for $SHIB 📊
The Shiba Inu token has experienced a significant 25% price decline, settling around a crucial support level around $0.000017. Despite this downturn, there are signs that a reversal might be on the horizon. The Relative Strength Index (RSI) is nearing oversold territory, suggesting the possibility of a bounce. However, the low trading volume is a concern, as higher buying interest is essential for a sustained recovery💡
For SHIB to confirm a reversal, it needs to break above the 50-day EMA with strong volume support. Maintaining the current support level could lead to a 20% price increase📈 Additionally, the performance of major cryptocurrencies like Ethereum and Bitcoin will play a crucial role in SHIB's potential recovery🚀
🔍Crypto Scouts analytics team
