$SHIB
🚨Shiba Inu Price Analysis: What Comes Next?🚨
Shiba Inu finds itself at a key inflection point as it retests the lower support of the bear flag, a sign that the recovery since the mid-April market bottom could give way to a continuation.
While this formation is not always damning, momentum indicators lend to a breakdown. The RSI continues to trend deeper into bearish territory, a sign that sellers overwhelm buyers.
the MACD is on the verge of a death cross, with the MACD line nearing a fall below the signal line. On the 3-day timeframe, this often suggests a longer-term downtrend taking root.
The event of a breakout could open the doors to a steep 53% decline, projecting a $0.0000058 target in line with he 1.618 Fibonacci extension level as support.
Still, the $0.00001 region marks a historically strong support zone and could prove pivotal in determining whether the bear flag pattern plays out in full.