The cryptocurrency market feels the effects of transferring global economic conditions because the Shiba Inu (Shib) faces significant down pressure.
The recent meme token price action shows a clear downtrend with consecutive lower highs, destroying many support levels.
The most intensive sale occurred during the period of 07:00 hours when the price dropped to 0.0000149, with a volume that almost doubled the average trade rate.
Technical assessments
- Shib dropped from 0.0000159 to 0.0000149, representing a 6.4% denial with a general range of 0.0000012 (7.5%).
- The price action is formed by a clear downtrend with consecutive lower highs, destroying many support levels around 0.0000156 and 0.0000152.
- The sale of high volume took place during the period of 07:00 hours as the price dropped to 0.0000149, with a volume exceeding the 1.43 trillion shib-alright double the average trading volume.
- Developing resistance to 0.0000152 and 0.0000148 support suggests a potential integration before the next move movement.
- At the last time, the shib experienced significant volatility with a sharp decline from 0.0000151 to 0.0000147, followed by a moderate recovery to 0.0000149.
- Most of the intense sale pressure occurred between 13: 33-13: 36, with spiking volume in more than 83 billion shibs at 13:35, establishing a critical support zone around 0.0000148.
- The price action was generated by a V -shaped recovery pattern after reaching a session of less than 0.0000147 at 13:51, with an increase in momentum that drives the shib above the level of 0.0000148.
Denial: This article was formed using AI tools and our editorial team reviewed to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s entire AI policy. This article may include information from external resources, listed below as appropriate.
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