CandleFocus Biggest Shiba Inu (SHIB) 'Falling Knife' in 2025
2025-01-28
Author: Content Editor
The crypto token Shiba Inu has experienced a sharp decline, marked by a significant candle shadow on the daily chart, indicating high volatility in the market. This formation suggests a potential price reversal, but if momentum does not change quickly, further drops are anticipated. Currently trading just above its recent low at around $0.000019, SHIB is facing resistance at the previous support level of $0.000020. The next crucial level to watch is $0.000017, where buyers may intervene. If that fails, the $0.000015 zone could be a final stronghold before another significant crash. A rebound may occur if SHIB can maintain above $0.000019 with increasing volume, targeting $0.000022 and potentially rallying to $0.000025. However, if SHIB fails to hold above $0.000019, it may move towards the $0.000017 support and potentially even lower. The downward sloping moving averages and lack of substantial purchasing power indicate significant selling pressure. The outcome for SHIB will likely be determined by the candle's shadow, and while a substantial recovery is possible, the negative trend may pose further difficulties. Investors should monitor the key levels of $0.000019 and $0.000017 to gauge SHIB's short-term direction.
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