3 Key Shiba Inu (SHIB) Price Levels to Watch for Reversal

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Shiba Inu is in a dire situation due to the recent price crash. However, things could turn around soon. The cryptocurrency market is certainly known for that. If you’re looking to catch a falling knife, the key levels to watch are probably $0.000018, $0.000015 and $0.0000096. Let’s see why.

This level is the first significant level that the price must gain as SHIB needs to reclaim $0.000018 before showing any signs of a reversal. Historically, this level has offered consistent resistance and support. SHIB’s current consolidation at this level is positive.

Shiba Inu/USDT Chart (TradingView)

The 100 EMA, a level that has been shown to be reliable support for Shiba Inu especially on the weekly chart, is located at $0.000015. If SHIB rises above these thresholds, the asset’s performance is likely to stabilize quite a bit. To halt further losses, it needs to sustain bullish momentum above this level.

The final key long-term support level is $0.0000096. For SHIB, this level acts as both a psychological barrier and a historical support threshold. Long-term investors and those who have not yet exposed to SHIB may find now an attractive time to buy, although a drop to this level would mark a significant pullback from recent highs. If the price were to bounce back from this level, we would likely see a major price reversal and a strong accumulation phase.

Price action on the SHIB/USDT chart shows just how important these levels are. SHIB has entered oversold territory as a result of the recent pullback. This is the first sign of a reversal, as shown by the RSI dropping below 40 on the daily and weekly charts.

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Armand Sirignan

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