📉 Price Drop and Futures Market

The price of SHIB has fallen to its lowest level in the last two months, dropping to 0.00001164 USD. This drop has led to the liquidation of a long position worth 1.8 million USD in the futures market. During the same period, the liquidation of short positions remained below 500 thousand USD. This situation indicates that investors are behaving more cautiously.

🔧 Technical Indicators and Support Levels

SHIB's daily RSI indicator is hovering near the oversold region, which could be a potential signal for recovery. A positive crossover is observed between the MACD and signal lines. These technical signals indicate that the price may move towards the 0.00001390 USD level.

The important support level is set at 0.00001100 USD. Maintaining this level is crucial for a short-term recovery.

📊 Market Sentiment and Investor Behavior

The trading volume being above the average at the last closing price of 0.00001170 USD indicates that buyer interest is sustained. The oversold condition in the hourly RSI data raises the potential for a technical bounce in price.

🧠 Expert Opinion

CoinDesk AI Insights evaluates, "SHIB continues to hold above the critical 0.00001100 USD level, providing a potential sign of trend reversal, while technical indicators promise short-term upward movements."

⚠️ Result

SHIB's price movements are going through a period that requires careful monitoring by investors. Maintaining critical support levels could be an important indicator for a short-term recovery. However, the uncertainty of market conditions and mixed signals from technical indicators necessitate a cautious approach.

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