Shiba Inu Price Analysis: SHIB Crashes Below a Critical Support, What’s Next?

Key Support level: $0.000023

Key Resistance levels: $0.000028

SHIB fell below the critical level at $0.000028, which has now turned into resistance. The next support is found at $0.000023. The current downtrend in price is unlikely to stop until SHIB reaches the key support.

Chart by TradingView

Technical Indicators

Trading Volume: The volume remains low and gives no indication of recovery. Sellers have dominated the chart so far.

RSI: The daily RSI fell under 50 points and is making lower lows and lower highs. This is a clear bearish sign.

MACD: The daily MACD completed a bearish crossover yesterday. This may be the start of a more significant correction.

Chart by TradingView

Bias

The bias on SHIB is bearish.

Short-Term Prediction for SHIB Price

At this point, it looks like there’s a possibility to see SHIB reach $0.000023 in the near future as the price searches for support. The current trend is bearish, and this is likely to continue for a while, considering the MACD crossover.