Shiba Inu

<ul><li>Shiba Inu faces rejection at a former support zone, pushing the coin back into an earlier price range.</li><li>After a 20% drop from the $0.0000205 level, SHIB alarms investors and analysts with diminishing momentum.</li><li>On-chain metrics show increased selling pressure and bearish momentum, indicating possible further declines.</li></ul>Shiba Inu (SHIB) encountered a significant obstacle, facing rejection at a former support zone. This rejection has pushed the meme coin back into a price range established earlier this month. On-chain metrics reveal increased selling pressure, exacerbating the coin&#39;s current struggles.Following the rejection from the <a href="https://cryptotale.org/shiba-inu-burn-rate-surges-by-482-88-in-24-hours/" rel="noopener noreferrer nofollow">$0.0000205 level</a> last week, SHIB experienced a nearly 20% price drop. Momentum and buying pressure have both diminished, suggesting the potential for further losses. This decline has alarmed both investors and market analysts.Previously, the $0.0000205 resistance level was crucial, marking the low of a range SHIB traded within from April to mid-June. A breakout above this range occurred on July 14, indicating a possible bullish trend. However, the price has since fallen below the $0.0000172 support zone, reversing this positive outlook. As of press time, SHIB is trading at <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">$0.0000168</a>, showing a significant upward movement of 2.82% in the past day.<a href="https://cryptotale.org/shiba-inu-faces-critical-rejection-bearish-sentiment-grows-as-price-falls/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Shiba Inu Faces Critical Rejection: Bearish Sentiment Grows as Price Falls

CryptoTale

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