🔥 SHIB/USDT Weekly Breakdown: Bearish Dive or Bounce Incoming? 🐕📉
📊 Trend Overview
SHIBA INU (SHIB) continues to ride a downward wave on the 1-week chart, with clear signs of bearish momentum. The pattern of lower highs and lower lows is supported by strong red candles and descending trendlines (📐 yellow & green), confirming a consistent sell-off in recent weeks. Traders should remain cautious as this decline shows no immediate signs of reversal.
🎯 Next Move: What's Brewing for SHIB?
With the current price hovering near 0.00001237, SHIB is eyeing the mid-term target of 0.00002000, which may act as a critical support level. If sellers maintain control, the price could continue sliding towards this zone.
However, a breakout above 0.00003159 could shift momentum toward a consolidation or potential recovery. Until then, expect more downside or sideways movement.
🔍 Key Support & Resistance Levels
✅ Support Zones:
0.00001055 – 0.00001500 🔽
Historical zone of buying interest; has held strong during prior dips.
0.00002000 🎯
Labeled as the mid-term target, this is the level bulls will likely defend.
🚫 Resistance Zones:
0.00003159 – 0.00003800 🚧
Immediate hurdle to cross for any bullish attempt.
0.00004500 🔺
A major resistance; breaking above this could signal a bullish reversal.
SHIB remains under bearish pressure on the weekly chart. If it fails to hold the mid-term support at 0.00002000, further downside may unfold. On the flip side, reclaiming 0.00003159 could open the door to consolidation and possible upside.
> 🧠 Pro Tip: Watch volume around key support levels. A bounce with volume confirmation at 0.00002000 could offer an early reversal signal.
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