CandleFocus Shiba Inu Loses Ground And Continues Its Range-Bound Trend
2024-10-24
Author: Content Editor
The price of Shiba Inu (SHIB) has fallen below the 21-day moving average, signaling a continued decline. However, if the price can hold above the moving average, it may resume its upward trend and reach new all-time highs. The altcoin is currently trading between the moving average lines on the 4-hour chart and is correcting upwards. Buyers have failed to sustain the price above the 21-day moving average, but the altcoin is still above the 50-day SMA support. Traders should be aware of key resistance levels at $0.00001200, $0.00001300, and $0.00001400, as well as key support levels at $0.00000600, $0.00000550, and $0.00000450. This analysis is not a recommendation to buy or sell and readers should do their own research.
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