Shiba Inu\u2019s native token has been demonstrating bearish price action over the past few weeks since getting rejected at a critical resistance level. Yet, a more severe decline may still occur in the short term.<\/p>\n
Technical Analysis<\/strong><\/h2>\nBy Edris<\/a><\/p>\nThe SHIB\/USDT Chart<\/strong><\/h3>\nOn the USDT-paired chart, the price has been rejected from the $0.000011 resistance level, leading to an impulsive drop below the 50-day and the 200-day moving averages located around the $0.0000085 and $0.0000095 levels, respectively.<\/p>\n
The 50-day moving average is currently driving the price down, preventing a possible recovery. If SHIB fails to climb above the mentioned moving average\u2019s resistance line, it will likely target the significant $0.000006 support zone in the next few weeks.<\/p>\n
<\/a><\/p>\nThe SHIB\/BTC Chart<\/strong><\/h3>\nLooking at the Bitcoin pair chart, things are quite similar. The price has been rejected from the 0.035 SAT resistance level and has decreased since.<\/p>\n
The 50-day moving average currently provides support around the 0.03 SAT mark, and it could initiate a rally and retest of the 0.035 SAT if it holds. On the other hand, a bearish breakout could result in a drop toward the 0.024 SAT zone, which could be the investors\u2019 last resort.<\/p>\n
![\"\"](\"image\/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAyNTYwIDE0NjQiIHdpZHRoPSIyNTYwIiBoZWlnaHQ9IjE0NjQiIGRhdGEtdT0iaHR0cHMlM0ElMkYlMkZjcnlwdG9wb3RhdG8uY29tJTJGd3AtY29udGVudCUyRnVwbG9hZHMlMkYyMDIzJTJGMDglMkZTSElCQlRDLURhaWx5LUF1Zy0zMS0yMDIzLXNjYWxlZC5qcGciIGRhdGEtdz0iMjU2MCIgZGF0YS1oPSIxNDY0IiBkYXRhLWJpcD0iIj48L3N2Zz4=\")
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The SHIB\/USDT Chart<\/strong><\/h3>\nOn the USDT-paired chart, the price has been rejected from the $0.000011 resistance level, leading to an impulsive drop below the 50-day and the 200-day moving averages located around the $0.0000085 and $0.0000095 levels, respectively.<\/p>\n
The 50-day moving average is currently driving the price down, preventing a possible recovery. If SHIB fails to climb above the mentioned moving average\u2019s resistance line, it will likely target the significant $0.000006 support zone in the next few weeks.<\/p>\n
<\/a><\/p>\nThe SHIB\/BTC Chart<\/strong><\/h3>\nLooking at the Bitcoin pair chart, things are quite similar. The price has been rejected from the 0.035 SAT resistance level and has decreased since.<\/p>\n
The 50-day moving average currently provides support around the 0.03 SAT mark, and it could initiate a rally and retest of the 0.035 SAT if it holds. On the other hand, a bearish breakout could result in a drop toward the 0.024 SAT zone, which could be the investors\u2019 last resort.<\/p>\n
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The SHIB\/BTC Chart<\/strong><\/h3>\nLooking at the Bitcoin pair chart, things are quite similar. The price has been rejected from the 0.035 SAT resistance level and has decreased since.<\/p>\n
The 50-day moving average currently provides support around the 0.03 SAT mark, and it could initiate a rally and retest of the 0.035 SAT if it holds. On the other hand, a bearish breakout could result in a drop toward the 0.024 SAT zone, which could be the investors\u2019 last resort.<\/p>\n
<\/a><\/p>\n\nSPECIAL OFFER (Sponsored)<\/span>
\nBinance Free $100 (Exclusive): Use this link<\/a> to register and receive $100 free and 10% off fees on Binance Futures first month<\/b> (terms<\/a>).<\/p>\n
\nBinance Free $100 (Exclusive): Use this link<\/a> to register and receive $100 free and 10% off fees on Binance Futures first month<\/b> (terms<\/a>).<\/p>\n