It looks like the SHIB correction will continue for some time. Over the past week, the price of the cryptocurrency has dropped 7.3%, and now the bears are targeting an important support level.
Key support: $ 0,000030.
Key resistance: $ 0,000038.
Why is the specified support level at $ 0.000030 important? It proved to be stable after the recent decline in December, however buyers should be more active or SHIB could fall even lower.
Trading volume: This indicator remains low, which casts doubt on the desire of the bears to lower the price.
RSI: daily RSI is already below 50 pips and continues to fall. The RSI has hit a bottom low, indicating that buyers can save the SHIB at the support level.
MACD: Today the daily MACD has formed a bearish cross. This is bad news for the bulls, they will need to show strength as any weakness could cause the SHIB to fall further below the current support level.
The sideways movement of the SHIB during the New Year holidays ended and the price resumed the downtrend. Traders should pay attention to maintaining the support level.
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