Shiba Inu Coin: Technicals Point to a Bearish Price Structure

SHIBA INU / Tether KUCOIN:SHIBUSDT

NicoBeau_Capital

Ever since Shiba Inu coin made a new high back in 2021 November, the price movement has shifted to a long-term bearish market. Recent price structure shows a descending triangle pattern, supported by price continously making lower lows. Therefore, current market is still bearish and the price could easily break the support level of the descending triangle pattern. For a bullish reversal, price needs to at least close above 3400 level in order to make a higher high.

You might be interested in …

Trading View May 5, 2022

BTCUSDT Fibonacci Retracement -188.6%

BTCUSDT Fibonacci Retracement -188.6% Bitcoin / TetherUS BINANCE:BTCUSDT firmestudio Fibonacci Retracement 188.6% new intraday target. Chaikin Money Flow dives below zero. Fisher Transform H2 bearish momentum. 37/36.9k is the key level to short this currency […]

Trading View March 20, 2022

ACA bullish idea, rounded bottom, buying support bounce

ACA bullish idea, rounded bottom, buying support bounce ACA / TetherUS BINANCE:ACAUSDT foilinggame ACA has previously broken out from accumulation within pennant , is now forming a rounded bottom with point of entry above S/R […]

Trading View April 22, 2022

SNX big announcement and current price action

SNX big announcement and current price action SNX / US Dollar (calculated by TradingView) BINANCE:SNXUSD tg-l Full disclosure: I am long SNX with a current holding of 3,035 tokens held on the Celsius Network. I […]