$SHIB
🚨Technical Patterns Spell Trouble for SHIB🚨
On the charts, SHIB has broken below its 50-EMA at $0.00001425, signaling mounting bearish momentum. The descending triangle pattern, capped by a steep trendline, points to continued downward pressure. Recent bullish attempts failed—marked by spinning tops and long upper wicks—before a decisive bearish engulfing candle broke below the 0.382 Fibonacci retracement at $0.00001368.
The MACD indicator confirms the bearish outlook, showing a deepening negative histogram and a bearish crossover. If SHIB breaks below $0.00001344, it could open the door to further declines toward $0.00001306 or even $0.00001270.
For traders looking to ride the trend:
Short Entry: Below $0.00001340, with a stop above $0.00001425.
Targets: $0.00001306 and $0.00001270.
Bullish Reversal: A sharp rebound above $0.00001425, backed by confirmation, could push the price toward $0.00001460 or higher.
