ShibArmy

Shiba

Bitcoin

when

Shiba Inu

The post <a href="https://coinpedia.org/price-analysis/sell-trade-triggered-for-this-memecoin-can-shibarmy-lift-the-shiba-inu-price-above-bearish-heat/" rel="noopener noreferrer nofollow">Sell Trade Triggered for This Memecoin: Can ShibArmy Lift the Shiba Inu Price Above Bearish Heat?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
In times when the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a> is displaying less strength, the markets have begun to consolidate. Besides, the memecoins are also plunging with a decent margin, suggesting thick bearish clouds hover over the crypto space, including Shiba Inu (SHIB). The latest price action has dragged the popular memecoin close to the pivotal support zone, which could be the last point of defence above $0.00002.&nbsp;
After the latest sell-off, the trade set-up has slightly changed in favour of the bears as the sell-signals have been haunting the <a href="https://coinpedia.org/price-prediction/shiba-inu-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">SHIB price</a> rally. In the first few days of March, the platform witnessed a massive rise in buying pressure, which caused a 300% jump in the price. Unfortunately, a huge sell-off triggered that dragged the levels by more than 40%. While market participants expect a strong rebound, a bearish continuation may be imminent.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXdloyWwrQ8NlLMtFM0fViWWpnUnHCk5Skw-xP2gPwhWzYjL3AxBDJUZL755wjPtzZ1cPFUymTdyUoQnNMy_xAnx_LrH8UezQ3tm7wRiWnKpNk3asAe21nmSTQPZP-ZPXB-cUckVVmSCINkVCsC5_eVDgfQD?key=uxlHohfVsekOzSsV8aODCg" alt="">
</figure>
The current trade set of Shiba Inu indicates the price is all set to test the local lows below $0.000019, as it did a few weeks ago. The RSI is heading towards the lower threshold without any bearish divergence. Besides, the Ichimoku cloud just turned bearish as the conversion line and the base line underwent a bearish crossover. Therefore, after a brief consolidation, the SHIB price is expected to break down into the key support zone between $0.00002107 and $0.00002157.&nbsp;
As the price breaks down the range, it may drop to the local support levels at $0.0000188, but a rebound may not be expected in the near future. The technicals suggest the volume may remain consolidated within a range which could slash the volatility of the token. This could compel the price to remain accumulated within a range and once the price surges back within the pattern, a breakout beyond the resistance at $0.000025 may be imminent.&nbsp;

Sell Trade Triggered for This Memecoin: Can ShibArmy Lift the Shiba Inu Price Above Bearish Heat?

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