The situation with Shiba Inu (SHIB) remains tense as the coin is currently at important technical levels. Let's examine the current market conditions and possible directions for price movement.
Current Situation of SHIB
Currently, SHIB is priced at about $0.00001347. The cryptocurrency is approaching a descending trendline that has limited its rise since late July. This resistance line is critical, and bulls need to overcome it to regain upward momentum.
Price Change Scenarios
The situation with SHIB may develop in several scenarios:
- Positive Scenario: If SHIB breaks above the trendline and the 200-day EMA, price movement may accelerate towards $0.00001550 and then $0.00002000.
- Negative Scenario: If SHIB fails to overcome resistance levels and drops below the 50-day ($0.00001208) and 100-day ($0.00001272) EMAs, it could lead to a price decrease and potentially add a zero, dropping to $0.000009.
SHIB Prospects
The RSI currently shows a value of 54, indicating a neutral zone without significant buying or selling pressure. Given the low trading volumes, the next step in price action will likely be determined by a break of a key level. If SHIB can maintain above the 200-day EMA with increasing volume, the likelihood of reaching $0.00002 will increase.
In the near future, SHIB is in a price trap with two main scenarios possible: a sharp decline or a powerful upward movement. It's important to monitor current trading conditions as they may determine the fate of this cryptocurrency.
