Bittime – Shiba Inu (SHIB) has seen a significant drop of 15.17% over the past six days, raising concerns about further declines. With the price recently closing below the 100 EMA support level and opening below it in the current trading session, the bearish momentum appears strong.
Current SHIB Market Situation
At the time of writing, CoinMarketCap data shows SHIB is worth $0.00002215 (Rp 360,512.75), marking a 4.36% drop in the last 24 hours and a 7.22% drop over the last week.
SHIB's market capitalization has fallen by 4.21% to $13.08 billion (Rp. 212,634 billion), while trading volume has jumped by 21.31% in the last 24 hours, indicating increased trading activity amid the downturn.
Check Today's Crypto Market:
Level Support Kunci SHIB
If the bearish trend continues, SHIB price has the potential to fall to the support level of $0.000019 (Rp. 308,925.00), especially if it breaks below the consolidation support level of $0.0000205 (Rp. 333,162.50).
This scenario makes sense considering current market dynamics.
Market Analysis AMBCrypto analysis of Santiment data
Reveals worrying signs. Daily transaction volume in profits has fallen, while the profit-to-loss ratio has seen some spikes in loss volume. This suggests that many traders are selling at a loss, possibly out of fear of further declines.
Additionally, the supply of SHIB on exchanges has increased, reflecting increased selling pressure from investors looking to exit their positions. This is a bearish signal that may lead to further price decline.
Technical Indicators Stochastic indicators
The RSI is currently oversold at 2.49 , indicating a possible short-term reversal. However, the overall trend remains bearish as SHIB continues to trade below its moving average.
Also Read How To Buy Crypto:
SHIB Future Predictions?
With increasing spikes in the profit-to-loss ratio, increasing supply on exchanges, and decreasing transaction volumes in profits, market sentiment for Shiba Inu remains bearish.
The price may continue to fall towards the support level of $0.000019 (Rp 308,925.00) unless there is significant buying interest or a clear reversal signal appears.
Conclusion Can You Break Through $0.000024 Resistance?
If a short-term reversal occurs, SHIB may rally back to the $0.000024 (Rp 390,150.00) resistance level. However, traders should remain cautious and monitor key support and resistance levels closely.
Check Crypto Prices Today:
How to Buy Shiba Inu (SHIB) from Bittime
You can buy and sell Shiba Inu (SHIB) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Shiba Inu (SHIB) is available on Bittime with the market pair SHIB/USDT . To be able to buy SHIB USDT on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Shiba Inu (SHIB) on Bittime .
Monitor the price chart movements of Shiba Inu (SHIB), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read too
Solana's Journey From $2 To $200 in 2 Years
How to Get PIX Bonus in Pixelverse, Easy & Efficient
5 Best Crypto Hard Wallets for Asset Security
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.