September 05, 2023 at 08:46AM SHIB: Support Breakout

SHIB: Support Breakout

SHIB / TetherUS BINANCE:SHIBUSDT

altFINS

Shiba Inu (SHIB) technical analysis:

Trade setup: Following a bullish breakout from Ascending Triangle, price reached $0.0000115 and looked like it entered a new Uptrend. However, price pulled back and broke below $0.000008 support, which is where the prior bullish breakout occurred. This opens up downside risk back to $0.0000055.

Trend: Downtrend on Short- and Medium-Term basis and Neutral on Long-Term basis.

Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).

Support and Resistance: Nearest Support Zone is $0.0000080, which it broke, then $0.0000055. The nearest Resistance Zone is $0.0000100, then $0.00001200.

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September 05, 2023 at 02:08AM Is a 10% Decline to $0.0000065 in the Cards?

Is a 10% Decline to $0.0000065 in the Cards?

SHIB / TetherUS BINANCE:SHIBUSDT

Coinpedia-Market-Insight

SHIB price breaks a pennant pattern and moves away from the 50-day EMA.
Potential downtrend continuation for SHIB, targeting $0.0000065.
Shiba Inu's 2023 performance shows a 7.64% YTD drop.
SHIB trades at a massive 91.65% discount from its all-time high of $0.00008854.
The 50 and 200-day EMA indicate a bearish trend for SHIB.
SHIB broke its triangle pattern last month, leading to a bearish pennant breakdown.
Over the past six days, SHIB has declined by 10%, currently trading at $0.00000752.
Technical indicators, MACD and RSI, suggest increasing bearish momentum.
Key support levels for SHIB are at $0.0000070 and $0.0000065.
If SHIB breaks above the 50-day EMA, it could target $0.0000090 and potentially $0.000010.