SHIB appears at a crossroad as the price is quickly losing its bullish momentum.
Key Support levels: $0.000010; $0.000094
Key Resistance levels: $0.000012
1. Rejection under Key Resistance
The rally continued until Sunday when the price started to fall. This is the first time in over a week when sellers showed strength and were able to stop the rally. If this continues, then SHIB may enter a correction.
Chart by TradingView## 2. Bearish Divergence
The daily RSI is showing a clear bearish divergence. The price made a higher high, while the RSI momentum indicator made a lower high. This shows that bulls are starting to lose control over the price.
Chart by TradingView## 3. Momentum Shifting Bearish?
Similarly to the RSI, the MACD histogram has been making lower highs for four days. This is a clear warning sign that momentum may soon change if buyers don’t return soon.
While a bearish cross is still some distance away, this price action may encourage sellers to step up their pressure.
Chart by TradingView## Bias
The bias for SHIB is neutral.
Short-Term Prediction for SHIB Price
Even if a correction unfolds this week, SHIB has good support at $0.000010 and $0.000094. Only if these levels fail to hold would the price action turn bearish. The resistance remains at $0.000012.
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