SHIB Price Correction: Bullish Momentum Lost, Buyers Face Challenge

By Owen Patter Aug 17, 202375Views

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Sharp Reversal

The price of SHIB made a sharp reversal after briefly reaching $0.000011. In the past five days, sellers have taken full control of the price action and pushed SHIB back under the current resistance level of $0.000010.

Key Support and Resistance Levels

Key Support levels: $0.0000090, $0.0000080
Key Resistance level: $0.000010

This correction has made the task of buyers difficult as they try to stop the bearish momentum.

Hot Take

The recent sharp reversal and the control of sellers over the price action indicate a challenging time for SHIB buyers. With key support and resistance levels in play, it remains to be seen if buyers can regain control and reverse the bearish momentum.

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Owen Patter

Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content. Owen's contributions serve as a valuable guide for both seasoned enthusiasts and newcomers, aiding them in navigating the dynamic world of cryptocurrencies with well-researched perspectives. With a meticulous commitment to precision, he empowers informed decision-making in the ever-evolving crypto domain.