This week, the price of Shiba Inu fluctuated within a small range without moving.
Several asset classes should be moving with the SHIB price in the financial markets.
A disconnect might indicate that the price movement is about to collapse or that there isn’t enough volume to keep the price action moving.
Shiba Inu’s (SHIB) price activity has been veering between the bulls and bears, but really moving much between them. It took until the weekend to finally see any sense of direction, and when these factors are weighed against the recent turbulent week in the financial markets, something is wrong. The problem with SHIB’s price action is that it is broken, that it trades on a low volume, and that it will eventually catch up to the trading reality.
The red descending trend line, which has been hovering over the price movement since mid-August, and the Shiba Inu price have been playing about up and down together all week. That is not a problem since this may indicate that the bulls are trying to create a breakout and start a rally away from the trend line, while the bears are defending the trend line and setting up a bull trap. Yet it is odd to observe such a modest price response after nearly four trading days in a row when the world’s markets were blazing hot.
As a result, SHIB’s price has to catch up to reality since multiple asset classes have seen significant price changes, but SHIB’s price remains unfazed by the larger movements that prevented markets from rolling over. One explanation might be that $0.00001011, continues to support the price movement. However, do not anticipate it to hold up in the face of the numerous tail risks that will soon start to affect SHIB’s price action. Say goodbye to the $0.00001000 barrier and prepare for a steep slide into $0.00000712 once it occurs.
Even if the SHIB price is able to move away from the red falling trend line, the 55-day Simple Moving Average (SMA), which appears as the first price cap at $0.00001245, presents the next problem. The 200-day SMA will undoubtedly accomplish that for the bears at $0.00001500, as it did during the summer if that one did not stop the rally. Therefore, it is a matter of how long-lasting any rally will be as the tail risks are simply too numerous to both count and tolerate.
