Recently, Shiba Inu Value has seen a major decline and it has fallen by about 30%. In the last few weeks, the pressure in the market has increased due to recession, due to which Shib value There is a steady decline in. This fall for Shiba Inu Value is a sign of anxiety, as it is breaking the major support level and going downwards. Investors fears that if this fall situation persists, there may be further damage.
What is the reason for Shiba Inu Value and the decline in the market?
Shiba Inu Value can have many reasons for this decline rapidly, but the most important reason is that Shib has recently broken its important support level. The shib is currently trading at a level of around $ 0.0000137, while its previous support level was $ 0.00001900. This decline has increased anxiety between investors and they feel that the market can go down further. In addition, Shiba Inu has also lost its 200 EMA (exponical shifting moderate), an important trend indicator in the form of trading indicators. When it breaks the shifting moderate, it points to a large downward trend and for Shiba Inu this signal increases the possibility of a large decline.
What can happen in the next days in Shiba Inu Value?
Currently, Shib is looking for the next major support level at the level of $ 0.00001500, which may be an important point for him. If this level breaks, Shiba Inu Value can fall to $ 0.00001200, which is a historically an important area, where earlier was purchased in large amounts. However, at present there is no clear uphore indication in SHIB and the selling pressure in the market is quite high. Apart from this, RSI (Relative Energy Index) has reached around 33.5, which points to oversold conditions, but despite this, there is no positive change in Shiba Inu Value.
At this time, Shiba inu Need to re -achieve its 200 EMA so that he can return to the Bullish trend. If Shib re -receives support at the level of $ 0.00002100, it can promote the hope of an improvement in the market. But at the moment, investors will have to be cautious as the daily chart of Shiba Inu is still showing the falling high and the decline in the market is increasing.
Conclusion
The decline in Shiba Inu Value has increased anxiety among investors and if the market does not improve, there may be further losses. Given the current situation, Shib needs to soon prevent its decline and get a stability at the support level. Although Falling Pressure is clear in the market, investors should pay attention to the possible support level. If the shib returns to its 200 EMA, the Bulish Reversal may be expected.
