\nShiba Inu Price Prediction: A bearish breakdown from the triangle pattern set the SHIB price for a prolonged downfall\t\t\t\t<\/p>\n
<!–<\/p>\n
![\"SHIB](\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/11\/SidfgarC-e1700673607913.png\")
<\/div>\n–><\/p>\n
Published 9 seconds ago <\/p>\n
Shiba Inu Price Prediction: Amid the increasing uncertainty in the crypto market, the SHIB price traded sideways for nearly two weeks<\/a> developing a triangle pattern in the daily time frame chart. however, the selling momentum in this asset accelerated as the market reacted negatively to the resignation of Binance CEO Changpeng Zhao. This downturn resulted in a crackdown below the triangle pattern indicating this memecoin is poised for further downfall.<\/span><\/p>\n <\/p>\n Also Read: SHIB Burn Rate Skyrockets 48000%, Shiba Inu Price To Rally?<\/a><\/p>\n <\/p>\n With a correction phase growing deep, the Shiba Inu meme coin loses its bullish ground and short-term gains.\u00a0 The SHIB price had been trading in a symmetrical triangle with a long-coming support trend line offering dynamic support.<\/span><\/p>\n However, with the recent pullback in the market with CZ resigning the CEO spot<\/a>, the SHIB price breaks under the support trendline signaling a bearish trend reversal. With the triangle pattern leading to a bearish break, the downtrend gains momentum and gives a 17.6% fall within a fortnight.<\/span><\/p>\n<\/blockquote>\n On analyzing the 4-hour timeframe chart, the sellers are in complete control and test the bullish dominance at $0.00000750. Further, the declining trend gains the support of high trading volume as the fear grows.\u00a0\u00a0<\/span><\/p>\n Considering the downtrend continues under $0.00000756, the high momentum bearish phase can test the next support level at $0.0000066.<\/span><\/p>\n <\/p>\n Coming as a beacon of hope for bullish traders, the SHIB price did bounce from $0.00000756 once as a fightback. In case the uptrend manages to surpass the breached EMAs, the uptrend can gain momentum. A breakout above the 200-day EMA would give better confirmation of recovery sentiment returning in this asset<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading <\/p>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\nShiba Inu Price Prediction: Will Correction Trend Extend to $0.000066<\/b><\/h2>\n
\n
![\"Shiba](\"https:\/\/s3.tradingview.com\/snapshots\/s\/SidfgarC.png\")
Source- <\/span>Tradingview<\/span><\/p>\n\n
Can SHIB Price Make a Comeback?<\/strong><\/h2>\n
\n
\n <\/a>
\n
\n![\"coingape\"](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"){kind=logo}
\n<\/a>
\n <\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&d=mm&r=g\")