2 Big Reasons SHIB Price can Crash Even Lower

Reason 1

If the Bulls try to buy and push Shiba Inu’s price high prematurely, there is a big chance that they will fail, and the Bears will start ruling the market.

Patience is the name of the game. Bulls can’t afford the volatility of the whipsaw pattern. If you don’t know, whipsaw price movement refers to stock price movement changing direction quickly.

Of late, Shiba Inu is struggling hard not to add a zero to its value. While writing, the SHIB price is $0.00001061.

If SHIB forms a whipsaw, there will be more uncertainty in the market, and the price will come tumbling down.

The current price exceeds the high-time-frame support barrier, equating to $0.0000098. SHIB has maintained this position for more than 3 weeks.

Reason 2

The price hasn’t dipped recently because the bulls have found a helping hand through 200 4-hour SMA (Simple Moving Average), which has acted like a stable support floor.

The price inefficiency or the FVG (Fair Value Gap) extends from $0.0000082 to $0.0000093. If SHIB price does not fill this gap, the danger of a quick reversal is likely.

If SHIB loses its 200 4-hour SMA support floor, it must cut through the support barrier at $0.0000095. If it doesn’t happen, the Bears can push the price down.

If SHIB price bounces off the SMA support floor at $0.0000098, it needs to make a break for the coveted $0.0000139 obstacle and turn it upside down. Only then will it start ascending.

Also Read: Bitcoin Bears vs. Bitcoin Bulls: The Battle is Truly ON in 2022?