Shiba Inu [SHIB]: Extra gains could be unlikely if this obstacle persists

ShibaInu [SHIB]: Extra gains could be unlikely if this obstacle persists

SHIB dropped below its late December trading range of $0.00000822 – $0.00000836 . But the $0.00000792 kept the downtrend in check, offering bulls strong support to launch a rally.

Nevertheless, another rally, at press time, struggled to overcome the obstacle. If the obstacle persists, SHIB could face another pullback to $0.00000822 in the next day or two. Therefore, if a trend reversal is confirmed, the level can serve as a short-selling target for bears. But RSI was also rejected at the 60-mark, leading to a drop in buying pressure. If the trend repeats, it could signal a price reversal.

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