Shiba Inu Buyers Lose Sharpness as Bullish Sentiment Wanes Out
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Market Analysis- SHIB Shows Potential for Downside
Shiba Inu Buyers Lose Sharpness as Bullish Sentiment Wanes Out. The recent market trends have shown a decline in bullish sentiment, causing buyers to lose their sharpness. The price of SHIB has experienced a significant pullback, falling back to the key level of $0.000002880. Earlier this year, SHIB buyers rallied and managed to break above the key zone of $0.000028800.
Shiba Inu Key Zones
Resistance Zones: $0.00004670, $0.00003600
Support Zones: $0.00002880, $0.00001930
This surge in buying activity created a sense of optimism among investors. However, this bullish sentiment was short-lived, as sellers quickly reclaimed control. Indecision near the $0.0000046700 level marked a turning point for buyers, as they began to lose touch with the market. The relentless selling pressure exerted by SHIB sellers caused the price to melt lower, leading to a downward spiral.
One significant event that impacted the SHIB market was the price rejection at the $0.0000046700 level. This rejection signaled a shift in market dynamics, as buyers struggled to maintain their position.
The subsequent decline in price brought SHIB down to the key level of $0.00002880. Despite their efforts to regain control, buyers have been met with resistance, and the bullish sentiment surrounding Shiba Inu remains weak.
Market Expectation
The RSI is still above the mid-range, suggesting that there is still some buying weakness in the market. While buyers are currently losing ground, they still maintain some level of control. However, a cross below the key level of $0.000028800 could result in further losses for buyers.
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