Shiba Inu has finally reached a level that could become a base for an appropriate price reversal. After the death cross, the price action suggests that Salogner could be around the bottom. The double -bottomed pattern is quite often considered as a trend reversal level, but it is always necessary to look back the rest of the walk.
Shib was on a downward negotiation trajectory and had difficulty resuming the momentum after a prolonged sale. However, a double background which was formed near the level of 0.00001485 indicates that the meme token could stabilize. When buyers are starting to intervene and cease to decrease more, this model generally signals a possible level of support. The Cross of Death is one of the most important technical indicators to monitor; He recently appeared Shib chart.
When the short -term mobile average crosses the long -term mobile average, this indicates a downward momentum. In the past, this configuration has often led to additional declines, but sometimes it has served as a starting point before a significant reversal. In order to validate a bullish reversal, Shib must exceed significant resistance levels, starting with the 50 -day mobile average almost $ 0.00001700.
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If this level is maintained, a recovery at $ 0.00002,000 can be possible. The asset may not be able to stage a significant recovery, because the upward volume is always low. Salogner Can continue to drop to $ 0.00001300 or less if the sales pressure continues and is unable to maintain the support of $ 0.00001485.
SHIB’s ability to maintain a recovery is still in doubt, however, due to the absence of powerful optimistic catalysts on the market. Shib has obtained significant technical support, but the market management as a whole and the resurgence of buyers’ interest will determine a large part of its future course. Staying vigilant could be the key here because the rest of the market has not yet shown its real direction.