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Title: Shiba Inu (SHIB) One Step Away From Death Cross
Shiba Inu (SHIB) is currently on the verge of a death cross, which could have devastating consequences for its price. The asset’s inability to recover and maintain higher levels has led to a downward trend over the past few weeks, indicating that it may be on the precipice of a significant downturn.
CZ, ex-Binance CEO, reminded his followers of his golden rule: “Crypto winter can occur anytime.” This statement serves as a stark reminder of the unpredictable nature of the crypto market. The current sentiment in the market suggests that SHIB is one step away from entering a death cross, which would further exacerbate its downward trend.
Regaining bullish momentum will be incredibly challenging for SHIB, given the lack of clear support and resistance levels within the present trading range. Without an urgent surge in buying pressure to rescue it from this impending doom, SHIB’s price may continue to fall precipitously.
In a desperate bid to avoid a catastrophic downfall, SHIB must hold prices above its 50 and 200-day averages. However, this appears to be an unrealistic scenario at present.
Source: u.today
