SHIBA INU Price Prediction, Shib Freefall Trigger Fear

SHIBA down 8.50% from $0.00001060, bulls firm at $0.000009000.

• According to Coingabbar Price Analysis, Shiba Inu demonstrates a notable leap, suggesting a potential double bottom pattern and a rounding reversal.

• Ongoing market uncertainty near a crucial resistance point raises the possibility of a minor pullback in SHIB price.

• Despite initial recovery, Shiba Inu faced a sharp reversal around the $0.0000106 mark, aligning with a long-standing resistance trendline.

• The reversal sets the stage for a correction phase, especially in light of current crypto market sell-offs.

• The SHIB price retreated from the upper trendline of the pattern during the latest crypto market downturn, hinting at a potential bear cycle.

• A sideways trend, shaped by a symmetrical triangle pattern, suggests an accumulation phase.

• If the coin price drops below the immediate support level of $0.00000964, sellers may gain momentum, prolonging the downward trend.

• A post-breakdown decline could lead to a 22% drop, reaching a lower trendline around $0.0000076.

• A potential breakout above the upper resistance holds the potential to push prices to $0.00000106, followed by $0.00000120.

KEY LEVELS :

RESISTANCE LEVEL : $0.00001000-$0.00001060

SUPPORT LEVEL : $0.000009400-$0.000009000

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.