📈 Technical outlook Shiba Inu


▫️Shiba Inu trades below the $0.00001000 psychological mark at press time on Wednesday, risking a downcycle within a falling channel formed on the 4-hour chart. The immediate support for SHIB lies at the S1 Pivot Point at $0.00000911, slightly above the falling channel’s base trendline.

▫️The momentum indicators on the 4-hour chart signal a downside risk as the MACD converges with the signal line, indicating a decline in buying pressure. Furthermore, the RSI at 45 is moving below the midpoint line, indicating a decline to a neutral level.
▫️To reinforce an uptrend, $SHIB should close above the 100-period Exponential Moving Average (EMA) at $0.00001073 to confirm the channel breakout. The overhead resistances for SHIB are the R1 and R2 Pivot Points at $0.00001116 and $0.00001225, respectively.
#TopDipPicks
SHIB-1.21%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 2
  • Repost
  • Share
Comment
0/400
Ryakpandavip
· 18h ago
Hurry and enter a position! 🚗
View OriginalReply0
Szerovip
· 18h ago
HODL Tight 💪
Reply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)