SHIBA Inu’s course fell to a weekly minimum

SHIBA inu (Shib) Memcoin fell until a weekly minimum, having lost almost 15% in the last week.

The fall of Shiba Inu is associated with an exacerbation of the situation in the Middle East. This negatively influenced the cryptocurrency and caused a rejection of risks among SHIB holders.

Shiba Inu traders expect new losses

Technical indicators promise the memecoire possible further losses in the near future. So, the BBTREND remains red on the day graphics. The indicator measures the strength and direction of the trend based on the lanes of the Bolinger. The positive values ​​of the BBTrend signal the ascending trend, and the negative ones are enhanced by the bear pulse. In the case of SHIB, red histograms increase for the past 13 days. This indicates the growing pressure from the sellers, confirming the control of bears.

In addition, the Elder-Ray index confirms the bear forecast for Shiba Inu. Now the indicator is below zero and is -0.0000011. The index evaluates the power of purchases and sales in the market. If the index is negative, sellers dominate. This confirms the bear trend in the SHIB market and indicates a possible continuation of the decline in the near future.

Can Shib resist

SHIB is now trading just above the key support of $ 0.0000102, the last time tested in April. If the sellers’ pressure intensifies, the token can again check this zone for strength.

If support does not withstand, a decrease in interest and weak demand can lead to a drop in prices to $ 0.00000939. On the other hand, if buyers are activated and the bull impulse will intensify, Shiba Inu may recover. The purpose of growth will be the mark of $ 0.0000122.

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