#MarketDownturn $SHIB

The current chart for SHIB/USDC presents several indicators that suggest a potential downturn in the short to medium term. While the price experienced a notable upward trend recently, the current behavior of key technical indicators raises concerns about sustained bullish momentum.

The Relative Strength Index (RSI), hovering around 57, indicates weakening buying pressure. Though not yet overbought, the RSI shows a loss of momentum, implying that buyers are losing control. The MACD indicator, with its signal line dipping into negative territory, confirms this trend by suggesting diminishing bullish momentum and the possibility of a bearish crossover.

The volume profile further supports a negative outlook. The declining trading volume after the recent spike suggests reduced interest and participation in the market. A breakout without strong volume often signals a false breakout, leading to price retracement.

Additionally, the price is struggling to sustain above the key psychological resistance level of 0.00002573. If this level fails to hold, the next potential support lies much lower, around 0.00001705. This would represent a significant decline and may lead to further bearish sentiment.

In conclusion, the technical setup indicates a possible retracement or consolidation phase before any further upward movement, with a high risk of bearish continuation if support levels fail.