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Under the influence of a downsloping trendline, the Shiba Inu coin price has managed a steady downfall for nearly two months. However, with the increasing uncertainty in the crypto market, the price trend has shifted sideways and showed the formation of a descending triangle pattern. Here’s how this pattern may encourage further price movement in the Shiba Inu coin.
Ključne točke:
- A potential breakdown below $0.0000103 could encourage sellers to a 17.5% downfall
- A potential bearish crossover between the 50-and-100-day EMA encourages the Shiba Inu coin for extended downfall.
- Unutardnevni obim trgovanja Shiba Inu novčićem je 301.2 miliona dolara, što ukazuje na povećanje od 3.5%.
Izvor- Tradingview
The 4-hour time frame chart gives a clear look that the SHIB price is actively responding to two technical levels, a long-coming resistance trendline and horizontal support of $0.00001035-$0.0000103.
Thus, the lower low formation due to the resistance trendline and fixed horizontal support (neckline) indicates the formation of a descending triangle pattern. In theory, this pattern is a bearish continuation pattern that promotes a prolonged downfall upon the breakdown of neckline support.
As of now, the Shiba coin price trades at the $0.00001057 mark and is tightly squeezed between the pattern’s key barriers ready to give a breakout trade. With a higher possibility, this memecoin is likely to break the $0.0000103 neckline which will release the trapped bearish momentum and offer a short selling opportunity to traders.
The post-breakdown fall can drive the price 17.5% down to hit $0.0000087 while sellers can maintain a stop loss slightly above the breakdown point which is around $0.0000105-$0.0000106.
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On a contrary note, interested buyers looking for an entry opportunity need to wait for the overhead trendline breakout before entering the market.
tehnički pokazatelj
Izvor- Tradingview
Indeks relativne snage – The daily RSI slope below the midline reflects the market sentiment is in the seller’s favor.
EMA: the 20-day EMA acts as a dynamic resistance and can assist sellers to maintain a sustained downfall.
Unutardnevne cijene Shiba Inu novčića
- Spot stopa: 0.00001059 dolara
- Trend: Bik
- Isparljivost: visoka
- Nivoi otpora - 0.000012 dolara i 0.000013 dolara
- Nivoi podrške: 0.0000103 i 0.00000965 USD
Predstavljeni sadržaj može sadržavati lično mišljenje autora i podložan je tržišnim uslovima. Istražite tržište prije nego što investirate u kriptovalute. Autor ili publikacija ne snosi nikakvu odgovornost za vaš lični finansijski gubitak.
Source: https://coingape.com/markets/shiba-inu-price-analysis-guide-coming-week-entry-and-stoploss/