SHIB Technical Analysis in a Weekly Timeframe

15 août

Hello everyone, I’m Cryptorphic.
For the past seven years, I’ve been sharing insightful charts and analysis.

Follow me for:
~ Unbiased analyses on trending altcoins.
~ Identifying altcoins with 10x-50x potential.
~ Futures trade setups.
~ Daily updates on Bitcoin and Ethereum.
~ High time frame (HTF) market bottom and top calls.
~ Short-term market movements.
~ Charts supported by critical fundamentals.

Now, let’s dive into this chart analysis:

SHIB is currently in a downtrend and is likely to fall further if the market faces another bearish scenario.

The price at $0.0000135 is currently hovering between support and resistance. The RSI is close to the oversold zone, indicating some room for further bearish movement.

A quick market reversal could change the outlook, but nothing can be confirmed at this time.

Key levels:

- Lower Support: $0.000006836
- Primary Resistance: $0.00001799
- Resistance Trendline: $0.000025
- Target: Previous all-time high

DYOR, NFA.

Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see!

Thank you!

#PEACE