Main support levels: $ 0.000020, $ 0.000017
Key resistance level: $ 0.000028
SHIB failed to recover and returned to primary support for $ 0.000020. So far, we have been able to save money from a serious crash. In the past, this level has been strong and has been able to raise the SHIB to the major resistance found at $ 0.000028.
Indicators remain bearish in higher timeframes, and bulls face difficult challenges in trying to curb selling pressure.
Technical indicators
Volume: It seems to be in favor of bears at the time of this post as the volume remained low and dominated the charts last month.
RSI: The daily RSI has dropped to the lowest and has not yet reached the oversold area at 30 points. This indicates that the SHIB may continue to fall until the bottom is found.
MACD: The daily MACD is bearish, but the selling momentum for the past few days seems to be flat. The big question is whether the bull will try to reverse here.
bias
The bias towards the SHIB is somewhat neutral as long as the price outperforms key support, but the indicators do not stimulate confidence in the bulls.
Short-term forecast of SHIB price
SHIB Bulls must protect $ 0.000020. Otherwise, it could be a big problem and push cryptocurrencies further down to $ 0.000017.
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Cryptocurrency chart According to TradingView.
