- Shiba Inu price shows a bounce off the 200 four-hour SMA at $0.0000098.
- SHIB could drop 15% if the immediate support level at $0.0000098 is breached.
- A flip of the $0.0000139 hurdle into a support floor will invalidate this bearish outlook.
Shiba Inu price has been sitting on a mine that could blow up in the bulls’ face if they trigger a premature rally. Investors need to be patient when trading SHIB as it could result in a whipsaw, putting traders out of their positions.
Shiba Inu price needs to undo knots
Shiba Inu price has been hovering above the high-time-frame support barrier at $0.0000098 for roughly three weeks and shows no signs of breaching it. Supporting the bulls here is the 200 four-hour Simple Moving Average (SMA) that has served as a stable support floor.
While the uptrend outlook seems plausible, investors need to pay close attention to the Fair Value Gap (FVG) aka the price inefficiency that extends from $0.0000082 to $0.0000093. As long as Shiba Inu price does not fill this, the threat of a sudden reversal hangs over bulls heads.
Hence, investors should expect a 15% retracement to occur if the 200 four-hour SMA is breached. This development will be the first sign, following which, SHIB needs to slice through the $0.0000095 support barrier.
SHIB/USDT 4-hour chart
While things might seem bearish after a quick glance, they are not. In fact, the faster Shiba Inu price fills the FVG, extending between $0.0000082 to $0.0000093, the quicker SHIB bulls can trigger an uptrend.
However, if Shiba Inu price prematurely bounces off the 200 four-hour SMA at $0.0000098, it needs to move past the $0.0000139 hurdle and flip it into a support floor. Doing this will invalidate this bearish outlook for the meme coin and trigger further ascent.
