Shiba Inu Faces Caution as Death Cross Signals Potential Market Shifts and Resistance Levels

• Current Price Levels: SHIB is caught between resistance at $0.00001698 and support at $0.00001107.

• Recent attempts to recover above $0.000015 have failed, leading to sideways trading.

• Market sentiment could turn bearish if SHIB drops below $0.000012, increasing the likelihood of further declines.

Stay updated on Shiba Inu (SHIB) price trends and market analysis. Understand the implications of the death cross and its potential impact on future movements.

What is the “Death Cross” in Crypto Trading?

The “death cross” is a technical analysis term indicating a bearish trend when a shorter-term moving average, like the 23-day, falls below a longer-term moving average, such as the 50-day. This pattern often signals that a price rally has ended and selling pressure may increase.

How Does the Death Cross Affect Shiba Inu (SHIB)?

The recent death cross for SHIB suggests that its recovery is fragile. The price has struggled to maintain levels above $0.000015, and with significant resistance and support levels in play, traders are closely monitoring these indicators. If SHIB fails to hold above $0.000012, further declines could follow.

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