Shiba Inu price prediction: Will bears erase all gains made in March?
What is the current market structure of Shiba Inu?
The current market structure of Shiba Inu is bearish on the daily chart, with the price falling below the 10-week range lows. The Relative Strength Index (RSI) is below 30, showing strong bearish momentum, and the Capitalization Flow Index (CMF) is at -0.14, reflecting heavy capital flow out of the market. This indicates further losses are likely for Shiba Inu.
What psychological support level might Shiba Inu slide toward next?
Shiba Inu may slide toward the $0.00001 psychological support level next, as the bearish momentum and strong selling pressure continue to impact its price. This comes as the RSI on the daily chart is below 30, and the CMF reflects heavy capital flow out of the market.
At what price did Shiba Inu fall below the 10-week range lows?
Shiba Inu fell below the 10-week range lows at $0.00002. The 78.6% Fibonacci retracement level at $0.0000172 was under threat from the sellers. A daily session close below this level indicated that the meme coin was headed toward the 100% retracement level, making the Shiba Inu price prediction more firmly bearish.