SHIB’s uptrend is stalling which may encouradge sellers to return.
Key Support levels: $0.000014
Key Resistance levels: $0.000020
1. SHIB Stops Under Key Resistance
Since late September, SHIB has been trying to break the key resistance at $0.000020, but has failed to do so. The price lacks the momentum right now and sellers appears to be returning. This could push this meme coin into a more significant pullback if buyers don’t put a stop to it soon.
2. Sellers Returning
With the bulls undecided, sellers have an opening to take SHIB into a deeper correction. The rejection at the key resistance could see the price revisit the support at $0.000014. The current price action does not give a clear signal at this time, but this could change at any moment.
3. Momentum is Stalling
The weekly MACD shows a flat histogram. This is bad news for bulls since their momentum is stalling and could even reverse. This is slightly surprising, considering not long ago, the MACD did a bullish cross. Buy volume has to return if SHIB is to break higher.
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