Shiba Inu Aims to Retest $0.00001272 After Support Breakdown
Shiba Inu is facing a critical period, having broken below the support level of $0.00001272. This breach has shaken investor confidence and may lead to further declines if buyers do not regain control.
Key Points
- Price dropped below the crucial support level of $0.00001272, indicating a shift in momentum.
- Current attempts to retest this level are underway; failure to reclaim it may reinforce bearish trends.
- Technical indicators show weak bullish momentum, with the MACD and price remaining below the 100-day SMA.
- A successful breakout above the $0.00001272 resistance could attract buying interest, targeting higher resistance levels at $0.00001703 and $0.00002045.
- If bearish pressure continues, SHIB could test the $0.00000847 support level, risking a sell-off toward $0.00000534.
For a recovery, increased buying momentum is essential to avoid deeper losses and prevent a prolonged downtrend.
