Shiba Inu Crawls Lower In Tandem With Dogecoin, Wider Crypto Sector: The Bull, Bear Case
Portfolio Pulse from Melanie Schaffer
Shiba Inu (CRYPTO: SHIB) was down over 4% on Wednesday, in line with the wider crypto sector, including Bitcoin and Ethereum. The downtrend is taking place within a falling channel pattern on the 24-hour chart, which is bearish for the short term but could be bullish in the future. The most recent lower high within the formation was created on Tuesday at $0.00000768 and the most recent confirmed lower low was printed at the $0.00000743 mark the day prior.
June 28, 2023 | 6:35 pm
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Shiba Inu (CRYPTO: SHIB) is currently in a downtrend, which is bearish for the short term but could be bullish in the future. The most recent lower high was created on Tuesday at $0.00000768 and the most recent confirmed lower low was printed at the $0.00000743 mark the day prior.
The article mentions that Shiba Inu is currently in a downtrend, which is generally a bearish signal. However, the article also suggests that this could be a bullish signal in the long term. The most recent lower high and lower low suggest that the downtrend is still intact.
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