After the brutal sale of Shiba, Inu is on the turning point and demonstrates signs of possible recovery, but any attempts to recover can be difficult on the upcoming cross of death. After a recent decline below important support levels, the assets have experienced a modest recovery and are currently trading at 0.000016 US dollars.
However, according to technical indicators, the Shibe can still be in trouble. The deadly cross occurs when the long-term sliding average, such as 200 EMA, intersects below the short-term, 50 EMA. This signal, which often leads to protracted downward trends, is well known as a bear indicator. The convergence between 50 and 200 EM Shib currently increases the likelihood that this formation will occur.
This can signal the additional impulse down if it is checked, which would make it difficult for Shib in order to maintain a significant recovery. A noticeable increase in the volume of bidding during the last price action indicates that some traders make short recovery rates. However, the nature of this volume is unclear, since some can accumulate, while others can use a modest recovery as a liquidity of exit, which will increase the pressure down.
The Shibe can carry out a stronger recovery in the direction of $ 0.0000189, a level that was once supported, but is now a resistance if it is able to support more than 0.000015 US dollars. The Shibe can check $ 0.000020 on further growth, but this scenario depends on the constant bull impulse. If the Shiba loses $ 0.000015, the next important support is located at $ 0.000012, which is an important area that, if it is broken, can lead to a more serious sale.
Can ShIB support above important support levels and stay away from the formation of the death cross will determine its nearest trajectory at the moment. If buyers interfere, a help rally may develop; However, if pessimism is preserved, Shibu can be difficult to restore. To confirm the next step, investors must control the volume trends and sliding medium.
