Will Shiba Inu Reclaim $0.000012? SHIB Eyes Retest After Key Support Breakdown

This article discusses the current state of Shiba Inu and its struggle to recover from a recent support breakdown. The price drop has raised concerns about further losses if buyers fail to regain control. Shiba Inu is aiming to reclaim the $0.00001272 level, which has become a key resistance zone.

The article emphasizes the importance of buying momentum increasing for a rebound to gain traction and push SHIB above the crucial barrier. However, if bearish pressure persists, the price could face another downward move, leading to deeper losses.

Shiba Inu recently broke below the critical support level of $0.00001272, signaling a potential shift in momentum due to increasing selling pressure and bearish market sentiment. The article mentions that reclaiming this level might signal a reversal and restore confidence among investors.

Technical indicators reveal weak bullish momentum for SHIB, with concerns about its ability to recover. The MACD line and signal line remain below average, and SHIB continues to trade below the 100-day SMA, indicating seller dominance. However, a successful breakout above key levels could attract renewed buying interest.

The article highlights the bearish pressure on Shiba Inu, casting doubts on the current bullish recovery. If SHIB fails to break above the $0.00001272 resistance zone, it could face more losses and test lower price levels. Sellers currently have the upper hand, and failure to break key resistance levels may accelerate losses.

If SHIB breaks below the $0.00000847 support level, it may trigger a sell-off towards the $0.00000534 support area. To avoid deeper losses, buyers must intervene at crucial levels and prevent Shiba Inu from entering a prolonged downtrend phase.

Overall, the article provides insights into the current challenges facing Shiba Inu and the importance of key resistance and support levels in determining its future price movements.