Shiba Inu Crawls Yawns As Market Falls: The Bull, Bear Case For The Dogecoin Killer
Portfolio Pulse from Melanie Schaffer
Shiba Inu (CRYPTO: SHIB) has been trading mostly flat, showing strength compared to the general market. The cryptocurrency has settled into a falling channel pattern, indicating a bearish short-term trend but potential bullishness in the future. Shiba Inu has resistance above at $0.00000793 and at $0.00000856 and support below at $0.00000738 and at $0.00000694.
September 06, 2023 | 6:26 pm
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Shiba Inu is currently in a falling channel pattern, indicating a bearish short-term trend. However, a break up from this pattern could signal a bullish reversal.
Shiba Inu's current falling channel pattern is typically a bearish signal, indicating that the price is likely to continue trending downwards in the short term. However, if the cryptocurrency breaks up from this pattern, it could signal a bullish reversal, potentially leading to an increase in price. The resistance and support levels mentioned in the article also provide key price points to watch.
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