Shiba Inu’s key technical indicators, observed on a one-day chart, confirmed the possibility of a further decline in the meme coin’s value.
key technical indicators, observed on a one-day chart, confirmed the possibility of a further decline in the memecoin’s value.
This indicator measures the flow of money into and out of an asset. When its value is negative, it signals liquidity exit from the market and often precedes a decline in an asset’s value. Further, its key momentum indicator, the Relative Strength Index , was 48.99 and trended downward at press time. This suggested that selling pressure outpaced coin accumulation among market participants.
This indicator measures SHIB’s trend directions and reversals. When its dotted lines rest above the asset’s price, the trend is said to be bearish. The market views it as a signal to exit long positions and take short ones.
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