news 
Title: Shiba Inu (SHIB) on Verge of Death Cross: Possible Scenarios
As the crypto market continues to show signs of uncertainty, one particular asset has caught attention due to its alarming chart pattern. Shiba Inu (SHIB), a popular meme cryptocurrency, is now staring at a potential death cross, which could have severe implications for investors and enthusiasts alike.
The price action on SHIB’s 4-hour chart suggests that the digital asset is poised to challenge major resistance levels around $0.00002105. However, the bearish momentum has not yet dissipated entirely, as there is little buying pressure present in the current market conditions.
To confirm a trend reversal, significant volume and price action are required. The double-bottom formation currently visible on the chart needs validation with increased trading activity. If bulls fail to take control and push SHIB above $0.00002350, a sharp decline could follow.
In a worst-case scenario, a breakdown below this critical support level would invalidate the potential reversal and send SHIB crashing towards an even lower price range. Conversely, if buyers are able to overcome the current resistance, we might see a 50% rebound from here.
While it is difficult to predict with certainty which path SHIB will take, investors should be prepared for either outcome based on the current chart pattern.
The author of this article is Arman Shirinyan
Source: u.today
