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Shiba Inu (SHIB) Price Just Performed Massive Fakeout
The price of Shiba Inu (SHIB) has been under immense pressure recently, and it’s now clear that the cryptocurrency has just performed a massive fakeout. The recent rally was nothing more than a brief reprieve from the bearish trend, which is likely to continue in the near future.
As shown by various indicators, there are no clear signs of a reversal at this point. The Relative Strength Index (RSI) remains in a weak zone, indicating that buying pressure is not strong enough to push the price upwards. Furthermore, the decreasing volume suggests dwindling investor interest, making it challenging for SHIB to launch a long-term sustainable rally.
As a result, traders should exercise caution when dealing with this cryptocurrency. The likelihood of additional downside increases if the price fails to quickly recover important resistance levels.
Source: https://u.today/shiba-inu-shib-price-just-performed-massive-fakeout
