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The value of the asset has dropped considerably in recent weeks, and Shiba Inu is in free fall. Concerns concerning additional declines have been raised as the lowering momentum has accelerated, pushing Shib further in a negative territory. The market can still be in the middle of its downward trend depending on the current price action.
Since Shib fell below the important levels of support, the sellers are clearly in charge. Shib is currently negotiating around $ 0.00001740, still intensifying the down pressure after the recent break below psychological support at $ 0.00001900. If there is no indication of recovery immediately, the drop in prices can accelerate.
An important problem is that Salognerwhich is currently negotiated at around 0.00002075, has not been able to recover its 200 EMA. A larger drop trend is indicated by the loss of the mobile average, which has historically served as a trend indicator. In addition, the lower structure is reinforced by the 100 EMA at around $ 0.00002160, which limits any possible recovery attempt. Shib can continue to decrease depending on the current structure with $ 0.00001500 as the next critical medium.
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The market can experience a more serious decline around $ 0.00001200, a historic accumulation area, if this level is broken. If the sales pressure is always high, the conditions for exceeding the RSI indicator at around 33.5 will not be sufficient to cause reversal. Salogner Must exceed 200 EMA in order to find its bullish momentum, ideally finding $ 0.00002100 as a support.
In the meantime, rallies may not last long because the daily graphic always shows lower ups. With the downside of speed, Shiba Inu is currently experiencing one of her steepest drops of recent months. In the near future, Shib could undergo even greater losses in the absence of a perceptible inversion scheme. Although traders should keep an eye on possible levels of support, the prospects are still dark as long as the asset remains below the significant averages.