May 25, 2025 at 09:41PM Channels

Channels

SHIBUSDT SPOT BYBIT:SHIBUSDT

paper_Trader1775

On the hourly chart, SHIB has recently tested the 200 EMA(in orange) unsuccessfully two times. As of this time, it is consolidating under the 200 EMA again. The testing and rejecting of the 200 EMA has seem to form a parallel channel. Failure of the 200 EMA again, can lead to price drop to possibly 0.00001428 or lower. We need a break out from the 200 EMA with Higher Highs and Higher Lows.