Shiba Inu Is Slowing Down on the Bearish Rally
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Market Analysis – SHIB Sellers are Acting Weak
Shiba Inu is slowing down on the bearish rally. The bearish momentum has failed to pick up strongly this week, as buyers continue to show interest in the sell rally. Despite their efforts, SHIB buyers were unable to elevate the price above the significant level of $0.00000940. The crypto market yielded strongly to the sell motion.
Shiba Inu Market Zones
Resistance Zones: $0.00001190, $0.00001030
Support Zones: $0.00000760, $0.00000650
Earlier this year, the crypto market adjusted to the selling motion, and the bears managed to penetrate down to the significant zone of $0.00000840. Unlike last year, when the bullish trend had great confirmation and traders using the best forex signals telegram had a stronger hit. However, patient traders can still profit from the market with accurate forex signals.
The Moving Average crossing indicator is still acting as a resistance line. The average line of days 9 and 21 remains above the candle despite the slower sell impulse. On the other hand, the Stochastic Oscillator has not provided a clear description. The signal line direction is still at mid-level, indicating uncertainty in the market.
Market Expectation
In the upcoming week, the bears must double up their efforts and push for a lower purge. More sell impulses will likely drive the price faster down to the significant level of $0.00000840. Right now, the crypto price is still looking weak. The buyers are not set to get stronger for now. It is only a matter of time before sellers will drive lower.
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