Breaking the downward trend that has been going on since the end of August, Shiba Inu (SHIB) has its eye on its next resistance.
SHIB, which has been decreasing in pricing since August 29, made a move towards its resistance after touching an important support area. However, both the lack of a strong price structure in BTC and the fearful news flow in the sector naturally shook the technical outlook of SHIB. What does the technical analysis show about Memecoin, which is currently sold at $0.00000734?
Shiba Inu (SHIB) chart evaluation
SHIB, which has been losing value since $0.00000844, finally managed to break the falling channel. The popular coin, which tried $ 0.00000751 several times as the technical outlook turned positive, has not yet exceeded this level. SHIB, which is currently traded at $ 0.00000734, may rise to $ 0.00000774 – 0.00000844 – 0.00000899 and $ 0.00001000, respectively, if it exceeds $ 0.00000751 in volume.
If Memecoins fall out of favor, BTC stays below $26,380, or SHIB continues to trade below resistance, the bearish signals will strengthen. In such a scenario, a reaction can be observed in the range of $ 0.00000706 – $ 0.00000691. Otherwise, a drop to $0.00000641 may be observed.
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