March 31, 2023

shoulders pattern, which is a bearish signal.

Looking at the daily chart, we can see that SHIB is currently trading below the 50-day and 200-day moving averages. This is a bearish signal that suggests that the trend is currently in favor of the bears. The next support level to watch is $0.000009, which is the low of January 19. If this level is broken, the next support level is $0.000007, which is the low of December 2020.

On the other hand, if SHIB manages to bounce back from the current level, the first resistance level to watch is $0.0000116, which is the neckline of the head and shoulders pattern. If this level is broken, the next resistance level is $0.000013, which is the high of August 17.

In conclusion, the technical analysis suggests that the trend is currently in favor of the bears, and the next support level to watch is $0.000009. However, if SHIB manages to bounce back from the current level, the first resistance level to watch is $0.0000116. As always, traders and investors should exercise caution and do their own research before making any investment decisions.

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