The cryptocurrency market feels the effects of changing global economic conditions as Shiba Inu (Shib) faces significant downward pressure.
Meme’s recent price action shows a clear lower trend with consecutive lower maximums, breaking multiple support levels.
The most intense sale occurred during the 07:00 hours when the price collapsed to 0.0000149, and the volume almost doubled the average negotiation rate.
TECHNICAL ANALYSIS
- Shib fell from 0.0000159 to 0.0000149, representing a 6.4% decrease with a general range of 0.0000012 (7.5%).
- The price action formed a clear downward trend with the highest consecutive maximums, breaking multiple support levels around 0.0000156 and 0.0000152.
- The high volume sale occurred during the 07:00 hours when the price collapsed to 0.0000149, with a volume greater than 1.43 billion Shib, double the average negotiation volume.
- The resistance formation at 0.0000152 and support to 0.0000148 suggests a possible consolidation before the following directional movement.
- In the last hour, SHHHHICs experienced significant volatility with a strong decrease of 0.0000151 to 0.0000147, followed by a modest recovery to 0.0000149.
- The most intense sales pressure occurred between 13: 33-13: 36, with a volume of more than 83 billion Shib at 13:35, establishing a critical support zone around 0.0000148.
- The price of the action formed a V -shaped recovery pattern after reaching the minimum of the session of 0.0000147 at 13:51, with an increase in the purchase of impulse that pushed Sib above the level 0.0000148.
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