🥰SHIB Price Analysis on December 19, 2024
🤩As of December 19, 2024, the price of Shiba Inu (SHIB) is trading around $0.00002418, down approximately 5.3% from the previous day.
🤩1.Technical Analysis:
👍Support:
$0.000021: The nearest support level; if broken, the price may continue to decrease further.
$0.000020: The next support level, where buying pressure may emerge if the price continues to adjust.
👍Resistance:
$0.000025: The nearest resistance level; breaking through it will reinforce the uptrend.
$0.000031: A strong resistance level, corresponding to a recent peak; should be monitored if the price approaches.
🤩2.Momentum Indicators:
RSI: Approaching the oversold zone, indicating a potential adjustment or accumulation in the short term.
🤩3.Evaluation
The recent decline in Shiba Inu's price may be related to factors such as:
👍Decreased trading volume: From December 10 until now, the trading volume of SHIB has decreased by $2.9 billion, indicating a drop in investor interest.
👍Decreased demand from whales: Large trades of SHIB (over $100,000) have decreased by 80% from December 9 to December 18, reflecting a decline in activity from major investors.
🤩4.Recommendations:
👍Short-term investors: Should be cautious, monitoring important support and resistance levels to make appropriate trading decisions.
👍Long-term investors: Should reconsider their investment strategy, taking into account market factors and investor sentiment that may influence SHIB's price.
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