Shiba Inu is in dire straits after the most recent price crash. However, things can change quickly; The cryptocurrency market is certainly known for that. The key levels to watch out for if you are trying to catch the falling knife will likely be $0.000018, $0.000015 and $0.0000096. Let’s find out why.
Shiba Inu is in dire straits after the most recent price crash. However, things can change quickly; The cryptocurrency market is certainly known for that. The key levels to watch out for if you are trying to catch the falling knife will likely be $0.000018, $0.000015 and $0.0000096. Let’s find out why.
Since SHIB needs to reclaim $0.000018 before it can show any hint of a possible reversal, it is the first important level for price to capture. Historically, this level has provided consistent resistance and support. SHIB’s current consolidation at that level is positive.
The 100-day EMA, a level that has proven to be reliable support for Shiba Inu, particularly on a weekly chart, is located at $0.000015. Asset performance can be quite stable as long as SHIB exceeds those thresholds. Any bullish momentum must remain above this level to avoid further losses.
Alex DovbnyaThe last significant long-term support level is $0.0000096. For SHIB, this level acts as a psychological barrier and historical support threshold. Long-term investors and those not yet exposed to SHIB may find now a compelling time to buy, although a drop to this level would indicate a significant pullback from recent highs. There is a good chance that we will see a big price reversal and a strong accumulation phase if the price bounces off this level.
The price movement on the SHIB/USDT charts indicates how important these levels are. SHIB has entered oversold territory as a result of the recent decline, which is the first sign of a reversal, as shown by the RSI falling below 40 on the daily and weekly charts.
