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SHIB Falls 7% in 24 Hours, Here Is Key Support (Shiba Inu Price Analysis)
Information appeared that the Shibarium code is a copy. The SHIB course reacted quickly to this news. Key Support Levels: $0.000010 Key Resistance Levels: $0.000011 Shiba Inu suddenly turned bearish as news of its code broke. The price fell 7% and is now dangerously close to the key support at $0.000010. Buyers may be hesitant to consider SHIB now and may choose to wait until there is more clarity on this developing story. Chart from TradingView Trading Volume: After good buying volume earlier in the week, this suddenly changed yesterday as the...
SHIB Falls 7% in 24 Hours, Here Is Key Support (Shiba Inu Price Analysis)
Information appeared that the Shibarium code is a copy. The SHIB course reacted quickly to this news.
Key Support Levels: $0.000010
Key Resistance Levels: $0.000011
Shiba Inu suddenly went retrograde when news of his code became known. The price fell 7% and is now dangerously close to the key support at $0.000010. Buyers may be hesitant to consider SHIB now and may choose to wait until there is more clarity on this developing story.
Chart from TradingView
Trading volume:After good buying volume earlier in the week, this suddenly changed yesterday as the bears took over.
RSI: The daily RSI failed to move above 50 points and is now falling again. This is bearish.
MACD: The daily MACD was close to completing a bullish cross, but this was halted when news of the SHIB code broke.
Chart from TradingView
Bias
The trend for SHIB is declining.
Short term prediction for SHIB price
With SHIB's fundamentals in question, it becomes difficult to be optimistic at this point. For this reason, a retest of the key support at $0.000010 looks more likely in the near term.
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