Despite an attempt at making higher highs in early June, momentum has shifted in favour of sellers. Key Support levels: %excerpt%.000018 Key Resistance levels: %excerpt%.000025 1. SHIB Loses Key Level Market participants were hoping SHIB can hold the %excerpt%.000025 level as a key support that can send the price to new highs. Unfortunately, this was short-lived. Sellers took back control of the price action and turned this level into a key resistance. Chart by TradingView2. Bulls on the Defensive With the %excerpt%.000025 level lost to sellers, bulls had no option but to retreat to the next key level at %excerpt%.000018 which is currently acting as support. The price action is also bearish and has been making lower lows in the past week. Chart by TradingView3. Bearish Momentum Picking Up June may have
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Duo Nine considers the following as important: Price Analysis, Shiba Inu (SHIB), SHIBBTC, SHIBUSD
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Despite an attempt at making higher highs in early June, momentum has shifted in favour of sellers.
Key Support levels: $0.000018
Key Resistance levels: $0.000025
1. SHIB Loses Key Level
Market participants were hoping SHIB can hold the $0.000025 level as a key support that can send the price to new highs. Unfortunately, this was short-lived. Sellers took back control of the price action and turned this level into a key resistance.
2. Bulls on the Defensive
With the $0.000025 level lost to sellers, bulls had no option but to retreat to the next key level at $0.000018 which is currently acting as support. The price action is also bearish and has been making lower lows in the past week.
3. Bearish Momentum Picking Up
June may have started on an optimistic note, but it soon turned around as momentum shifted bearish. This can also be seen on the weekly MACD. The histogram is making lower lows and the moving averages are in a free fall right now. Watch the key support at $0.000018 which could attempt to stop this sell-off.
