🚨 Shiba Inu Price Analysis 🚨

Is a Drop Approaching for SHIB? The Worst-Case Scenario Uncovered

The price of Shiba Inu (SHIB) is under the watchful eye of traders, and the current situation is not entirely optimistic. 🧐 On the daily chart, SHIB is right at the average of $0.00001300, a crucial point. Analysts of the Bollinger Bands indicate a concerning pattern: every time SHIB fails to surpass this midline, its price tends to retreat towards the lower support, which is around $0.00001190. This could mean a drop of almost 10%. 📉

The weekly outlook does not improve. After reaching a peak at the end of 2024, SHIB has struggled to recover. The current resistance is at $0.00001576, while the nearest support is at $0.00001056. The coin is trapped in the middle, with no clear momentum in either direction.

What could happen?

The biggest risk is a downward break. If the current support gives way, the next price level is $0.00001000, which would nullify all recovery from September. 😰

Why is this happening?

Bollinger Bands: They are tightening, indicating low volatility and a potential breakout.

Trading volume: Volumes are weak.

Resistance: Every attempt to rise to $0.00001400 has been quickly rejected.

For SHIB to change direction, it needs a daily close above $0.00001400 with significant trading volume to push it towards $0.00001500. Without this momentum, the most likely path remains downward. ⬇️

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