Shiba

Bitcoin Cash

Maker

Shiba Inu

Chainlink

<p>Shiba Inu has continued to struggle in recent times and has already been outperformed by many altcoins. For example, Bitcoin Cash (BCH) has seen a 14.35% increase, soaring from $209 to $239 over the last four days. Similarly, Chainlink (LINK) has shown steady gains since September 12, surging 34.48% from $5.8 to $7.8. Maker (MKR) also exhibited bullish momentum, climbing 22.02% from $1262 to $1540.</p> 
<p>This outperformance could indicate investors shifting preferences toward cryptocurrencies with more utility and fundamental strength. It may also signal a maturing market growing more discerning, focused on projects with substantial use cases and long-term viability.</p> 
<p>Based on Shiba’s recent outlook, a recent bullish breakout has reversed course, opening up downside risks. After breaking out from an Ascending Triangle pattern, <a class="wpil_keyword_link" href="https://captainaltcoin.com/shiba-inu-price-prediction/" title="SHIB" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">SHIB</a> price reached a target of $0.0000115. However, SHIB has since fallen back below support at $0.000008, which aligned with the prior breakout point.</p> 
<h2 class="wp-block-heading" id="strong-break-below-support-signals-downtrend-strong"><strong>Break Below Support Signals Downtrend</strong></h2> 
<p>This breakdown below the $0.000008 support indicates a resumption of the prevailing downtrend across short, medium, and long timeframes. SHIB remains in a clear downtrend across daily, weekly, and monthly charts.</p> 
<p>Momentum indicators present a mixed picture. The MACD line stands above the signal line, which is bullish. However, the 14-day RSI reads below 45, indicating bearish momentum. Declining MACD histogram bars point to weakening upside momentum as well.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2023/09/image-607-1024x573.png" alt="" class="wp-image-344738" srcset="https://captainaltcoin.com/wp-content/uploads/2023/09/image-607-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-607-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-607-767x429.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-607-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-607-2048x1146.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-607-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-607-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-607-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2023/09/image-607-788x441.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p> 
<h2 class="wp-block-heading" id="strong-next-support-around-0-0000055-strong"><strong>Next Support Around $0.0000055</strong></h2> 
<p>With SHIB trading below the $0.000008 support, downside risk now points toward the next support zone around $0.0000055. This lines up with swing lows in May and September 2022.</p> 
<p>On further strength, initial resistance is expected around $0.0000080, which aligns with the breakdown point and prior support level. Above that, additional resistance is located at $0.0000100 and $0.00001200.</p> 
<p>Traders may consider setting price alerts around key support and resistance levels. But the overall technical posture favors a bearish bias given the breakdown and prevailing downtrend across timeframes. Continued volatility is likely as the crypto market struggles for direction.</p> 
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/the-downtrend-continues-shiba-inu-shib-falls-below-crucial-support-as-bears-eye-this-next-key-level/">The Downtrend Continues: Shiba Inu (SHIB) Falls Below Crucial Support as Bears Eye This Next Key Level</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

The Downtrend Continues: Shiba Inu (SHIB) Falls Below Crucial Support as Bears Eye This Next Key Level

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