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Why is Shiba inu price down? Messages in this topic - RSS

stuuuped
stuuuped
Posts: 2


27 days ago
stuuuped
stuuuped
Posts: 2
Hello, I am a novice trader and love the world of cryptocurrencies. After all the party done with the shiba inu currency I decided to take advantage and buy this stuff thinking about a profit. But since I bought it (a few thousand euros) the price does not go up and down only.

Why is the price of shiba inu going down? Help!
Sorry, English is not my native language.
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John Lee Rossi
John Lee Rossi
Administrator
Fundamental & Technical Research
Posts: 12


27 days ago
John Lee Rossi
John Lee Rossi
Administrator
Fundamental & Technical Research
Posts: 12
Hi there. This price correction of the SHIB/USD was pre-announced. Just remember that no market can climb in a straight line forever (or drop in a straight line). The pair went up on October 24th, breaking the resistance level of 0.000036 (now a support level) like an arrow, and for the following 3 days went up, making an ATH at 0.000088.

Of course, the correction was imminent. If we look at the extremely overbought market and divergence in the price before the correction, we can see that profit-taking was about to happen.

Now, it's normal for cryptos to make huge drops (and bounces) due to their volatile nature, and a correction to about 50% (and even 61.8% is normal) which is the area between 0.000056 and 0.000043, can be considered normal for a crypto market.

So, to answer your question directly "Why is SHIBUSD price down?", it is down because the market is correcting. Let's see now if it bounces back up and sustains enough momentum for another push to the resistance level between 0.000088 and 0.000073. Good luck smile

--
An investment in knowledge pays the best interest - Benjamin Franklin

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stuuuped
stuuuped
Posts: 2


27 days ago
stuuuped
stuuuped
Posts: 2
Thank you very much sir. Yes I hope for market go up. ☝ 🚀🚀🚀
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