Shiba Inu (SHIB) Experiences Uncertain Reversal: Is it a Dead Cat Bounce?
Release: 2024/05/05 00:04 Reading: 576
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Shiba Inu (SHIB) is currently showing signs of a weak reversal, often referred to as a dead cat bounce.
Despite some upward momentum, the lack of volume suggests a lack of substantial buying interest.
SHIB is struggling to break past the immediate resistance level, with potential for further decline.
Shiba Inu exhibits signs of a weak reversal, with low trading volume and potential for further decline. The meme coin is struggling to break past resistance levels, reflecting the general risk prevalent in the market.
Shiba Inu’s Struggle with Resistance Levels
SHIB has shown some upward momentum in recent trading sessions, but the trend lacks the strength seen in previous rallies. The volume accompanying these price changes has been notably low, indicating a lack of substantial buying interest. Currently, SHIB is trading near the $0.00002264 mark, struggling to break past the immediate resistance level at $0.00002384. This resistance level is crucial as it previously acted as both support and resistance, making it a significant price point for the asset.
Potential for Further Decline
Despite the slight upward trend, the potential fo... Read the full article for FREE at COINOTAG!
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