SHIB/USDT Price Preparing for the Final Leg Down below $0.000008
Shiba INU bears appear to have again activated as the prices are falling apart for the past few hours. The price is experiencing extreme selling pressure due to which it has plunged by more than 6% in the past 24 hours and still counting. The RSI is heading south, the price rejected the crucial 50-day MA levels, and MACD displays an accumulated bearish volume while the cross-over is still distinct.
This may indicate the bearish trend may be continued for some more time which could drag the price lower to reach the support zone below $0.0000082. However, despite the bearish clouds prevailing over space, the current trade set-up appears to just trap the short traders as the price is closer to manifesting a notable upswing. But well before the bullish breakout, the price is closer to manifesting a notable pullback.
The SHIB price is yet to accomplish with the ongoing falling wedge pattern, for which a pullback below $0.000008 is mandatory. These levels are usually a very high demand area attracting the significant liquidity onto the platform. Hence this may be when one can expect a trigger towards the north by reclaiming the levels above $0.000009 initially while $0.00001 remains the next target milestone to achieve
This may indicate the bearish trend may be continued for some more time which could drag the price lower to reach the support zone below $0.0000082. However, despite the bearish clouds prevailing over space, the current trade set-up appears to just trap the short traders as the price is closer to manifesting a notable upswing. But well before the bullish breakout, the price is closer to manifesting a notable pullback.
The SHIB price is yet to accomplish with the ongoing falling wedge pattern, for which a pullback below $0.000008 is mandatory. These levels are usually a very high demand area attracting the significant liquidity onto the platform. Hence this may be when one can expect a trigger towards the north by reclaiming the levels above $0.000009 initially while $0.00001 remains the next target milestone to achieve