Chart by TradingView
Shiba Inu entered a pullback. Will the support hold?
Key Support levels: $0.000025
Key Resistance levels: $0.000037
SHIB had a good attempt to break above the resistance at $0.000037, but sellers stopped it. Now, bears appear determined to take the price to the key support at $0.000025.
This correction is normal and nothing to be too worried about, especially since SHIB had a massive rally that quadrupled its price. It’s important to monitor the key support and see if the buyers will come back in force. Then, SHIB could return on an uptrend.
The MACD moving averages on the daily timeframe did a bearish cross. This is bearish, and until the histogram makes higher lows, it is unlikely to change.
The bias for SHIB is bearish.
All eyes are now on the key support at $0.000025. If that level holds, then buyers could take SHIB back on the offensive to break the current resistance.
