• SHIB prices have dropped 7% daily and buyers are struggling to stop the correction.
• The support at $0.0000090 needs to be held or else SHIB could drop further.
• The bearish momentum is increasing as MACD shows a bearish cross.
SHIB Price Analysis
With the bullish momentum lost, buyers have a difficult task at stopping this correction. Key Support levels: $0.0000090, $0.0000080 Key Resistance levels: $0.000010
The price made a U-turn after reaching $0.000011 for a brief period. Sellers took full control of the price action in the past five days and they pushed SHIB back under $0.000010 which is the current resistance.
The support at $0.0000090 has to hold as the alternative is quite grim for SHIB. The last time the price tested the top of this wedge, it turned bullish.
Bearish Cross on MACD
The daily MACD is giving a clear sell signal after the moving averages did a bearish cross. This could be the start of a prolonged correction and SHIB may revisit lower levels before it finds good support.
Bias and Prediction
The bias for SHIB is bearish. Wait to see if the support at $0