Will SHIB Bounce Back In April or Continue to Slope Down?

• The trading price of Shiba Inu lost around 2.24% last week.
• Shiba Inu struggling to overturn the daily open.

The crypto market managed to wobble through the bank crisis in the United States, which gradually spread into other parts of the world. Shiba Inu’s price remains stable, with the buyer congestion at 0.00001 holding the price. Adding to the bank crisis, the U.S. Federal reserve announce that increase in interest rates which led to many investors being unsettled and regulators blaming the crypto industry. 

Over the last 30 days, Shib has declined by 19%. The price of Shiba Inu is fallen by around 2.24% in the last 7 days. At the time of writing the trading price of Shiba Inu is around $0.00001033. Shiba Inu has nearly 60% below the all-time high of $0.0027 according to CoinMarketCap. 

Shiba Inu Struggling to Retain Price 

The Shiba Inu price has broken out from the resistance line but it has struggled to retain an increase. At the start of January, the Shiba Inu price come out from the decline resistance and reached the new year high of $0.0000157 by the end of the month. However, the price failed to sustain and return to the resistance level again in February. 

Due to a lack of liquidity to push up the price of the coin and sustain a rally, Shib’s price has oscillated between $0.000010 and $0.000011 marks in the past two weeks. Shiba Inu price is struggling to overturn the daily open. For day traders, the break above this level at $0.00001033 will attract more buyers, and the momentum will increase to fight the trendline resistance.

Also, the Shib spends a long time within the tight range, as the buyers and sellers are waiting for defining events to determine the coin’s future price direction. The failure to sustain is breakouts the weakness of the Shiba Inu’s price. For the upcoming months, whether it bounces from the previous resistance or it breaks down could determine the future trend. 

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