In addition to Bitcoin (BTC), which has fallen by 6.25% in the last 24 hours, a red table dominates the market, at least 5%. SHIB, on the other hand, continues to seek new highs, gaining 21.38% since yesterday. Is a fix expected? According to analyst Denys Serhiichuk, this is possible, but drastic declines can happen gradually, slowing down in liquidity zones.
Shiba saadollarsic chart analysis
On the Saadollarsik chart, SHIB broke out sharply from the $0.00004800 region supported by increasing trading volume. In terms of the nearest price action, the decline could continue into the $0.00004000 liquidity zone, where the bulls could recapture the initiative.
SHIB 4 saadollarsic chart analysis
Analyst 4 saadollarsik says that the decline may continue as buyers do not have the strength to continue the rise. In this case, the correction may continue until SHIB retests the $0.00003528 support. Such a scenario is valid until the end of the current week.
Cryptocoin. com, the Shiba Inu price has been rising for the last five days, confirming the current uptrend. However, SHIB has been somewhat overbought, meaning the bulls may face a short-term correction to gain more energy for continued growth.
In a bearish scenario, SHIB could decline to the nearest support at $0.00003200 shortly.
SHIB was trading at $0.00005614 at the time of writing.