SHIB has found some support, but will it last?
Key Support levels: $0.0000075
Key Resistance levels: $0.0000083
1. Support Under Pressure
After a significant drop during this past week, SHIB’s price seems to have found some relief on the $0.0000075 support. Buyers appear to be interested here, but it is too early to determine if they are strong enough to stop this bearish price action.
Chart by TradingView.## 2. Downtrend Still Intact
This meme coin could not break above the key resistance at $0.0000083 and was pushed lower soon after. In the process, SHIB made new lows not seen since July. As a result, bears still dominate the chart and have kept the downtrend intact.
Chart by TradingView.## 3. MACD Hints at a Bullish Divergence
While the trend remains bearish, the daily MACD histogram shows a bullish divergence with higher lows while the price made new lows. This could eventually allow Shiba Inu to stop the downtrend and attempt a reversal.
Chart by TradingView.## Bias
The bias for SHIB is bearish.
Short-Term Prediction for SHIB Price
The support at $0.0000075 appears to hold for now. If, for any reason, it will fall, then the next key levels to watch are found at $0.0000070 and $0.0000064.
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