Hello, welcome to this SHIB/USDT 1DAY chart update by CRYPTO SANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Shiba Inu (SHIB) neared a five-month low on Friday, as markets reacted to the news that Elon Musk will be stepping down as CEO.
Musk, who acquired the social media company last year, has been at the helm since the takeover but has found a long-term replacement.
Following a high of 0.000008746 on Thursday, SHIB/USD dropped to a bottom of 0.000008549 earlier in the day.
As a result of this sell-off, Shiba inu moved close to Monday’s low at 0.00000835, which was the weakest point the meme coin has hit since January.
Looking at the chart, this latest move occurred as the relative strength index (RSI) moved deep into oversold territory, with a current reading of 23.02.
However, this gives hope to longer-term bulls that a reversal could be on the cards.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-Shiba Inu (SHIB) neared a five-month low on Friday, as markets reacted to the news that Elon Musk will be stepping down as CEO.
Musk, who acquired the social media company last year, has been at the helm since the takeover but has found a long-term replacement.
Following a high of 0.000008746 on Thursday, SHIB/USD dropped to a bottom of 0.000008549 earlier in the day.
As a result of this sell-off, Shiba inu moved close to Monday’s low at 0.00000835, which was the weakest point the meme coin has hit since January.
Looking at the chart, this latest move occurred as the relative strength index (RSI) moved deep into oversold territory, with a current reading of 23.02.
However, this gives hope to longer-term bulls that a reversal could be on the cards.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
