SHIB Technical
Price chart by Tradingview

SHIB Technical: Price Chart is not showing any strength at all

What's in this article

SHIB Technical analysis shows that Price chart is not showing any strength at all. The chart shows that there is strong resistance and support levels. We may consolidation for a while or a sudden drop. Next two forming candles in 4H will decide the fate of SHIB.

SHIB is holding 11th position in the crypto market rank and has lost 5.62% in the last 24 hours. SHIB is clearly in a downtrend with a 24h trading volume of 3.14 billion dollars. The market cap of SHIB is $28,311,167,932 with a loss of 6.75%. SHIB technical is not telling something surprising. Let’s jump into technical to see what’s going with to DOGE rival.

SHIB Technical
Price chart by Tradingview

SHIB Technical:

SHIB is not showing any strength at all, it lacks fundamental technical support. Recent moves of SHIB were price hypes. SHIB technical shows that token has only one strong support at $0.00004274. There is a local resistance at $0.00005336 and strong resistance at $0.00005592. Market is showing neutral volumes for the SHIB that means we might see consolidation for a while or sudden drop.

At the end of this triangle we might see a breakout on upper or lower side. In my opinion, it has more chances to consolidate or go down. DYOR.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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