The main reason behind the thesis you see in the title is the fact that Shiba Inu is actually very close to falling below the 100 EMA, which will likely lead to a move towards the 200 EMA, which is down 15%. below the current price level. .
The main reason behind the thesis you see in the title is the fact that Shiba Inu is actually very close to falling below the 100 EMA, which will likely lead to a move towards the 200 EMA, which is down 15%. below the current price level. .
The price is dangerously close to the 100-day exponential moving average (EMA), a significant support level that has historically offered stability. SHIB could be in trouble if it falls below this level and approaches the 200 EMA, which is about 15% below the current price.
The Shiba Inu price has been falling over the past few weeks, leading some investors to sell the asset. Since the 50-day EMA is already above the price, a bearish crossover has occurred which has strengthened the bearish momentum. For now, the price is right at the limit, moving below and above the level in a matter of hours.
Volume trends also indicate a lack of significant buying interest. Volume has been declining recently during price declines, implying that fewer buyers are stepping in to support the price, leaving it more vulnerable to further declines.
Arman ShirinyanFor those anticipating a quick recovery, this lack of demand is the worst imaginable. Another important metric to pay attention to is the RSI. The RSI is currently near the lower end of the range, suggesting that SHIB is approaching the oversold area.
An increase in selling pressure may cause Shiba Inu price to drop to the 200 EMA if it falls below the 100 EMA. This action would mean a substantial 15% drop from current levels, which could spook investors and cause further losses, especially considering that SHIB is approaching the edge of the $0.00002 threshold.
