Shiba Inu (SHIB) Struggles to Recover as Selling Pressure Increases
📉
Shiba Inu's (SHIB) price has been relatively stable but is struggling to breach a key resistance level at $0.00001961. Increasing selling pressure and a high NVT ratio suggest that SHIB may be overvalued, raising the risk of a price correction. The RSI also indicates declining bullish momentum, adding to concerns about SHIB's sustainability at current price levels. If the selling pressure continues, SHIB could see further downward movement, potentially falling to $0.00001281 or lower if the current support of $0.00001473 is lost. Consistent consolidation around these resistance and support levels is likely until the market sees either a decrease in selling pressure or strong bullish cues.
Source: beincrypto.com ↗
