Signal price

The Shiba Inu Price Should Be Avoided Until This Happens

  • Shiba Inu price retests $0.00001000 during the second trading week of July.
  • SHIBA price is in the middle between a bullish and bearish scenario.
  • The downtrend invalidation is a close above $0.00001190.

The price of the Shiba inu is in a decisive situation. Placing an entry is very risky for both bears and bulls.

The Shiba Inu Price Is Worth Watching Closely

The Shiba Inu price is currently trading at $0.00001020 as the bears loosen their grip on the famous coin. The bears forced a second test of the $0.00001000 consolidation zone amid a 70% bull run for SHIBA price. On July 11, the triangle breakout failed to rally impulsively. Yes, the first wave could be a very choppy attack diagonal. But hope often hurts you in this market.

Shiba Inu price rallied 8% to peak at $0.00001174 on July 9 before things turned sour. Now traders who have not moved their entries to break even suffer an 8% loss. Last week’s thesis mentioned the possibility of this extended triangle scenario. The bullish triangle thesis has not been invalidated as wave A at $0.00000925 is still intact. However, bulls outside the market should avoid entering the market to take an unnecessary loss. If market conditions persist, a liquidity hunt targeting $0.00000950 is a plausible scenario.

SHIB.USDT 3 hour chart.

Thus the invalidation of the bearish thesis will also be a bullish entry signal. If the Shiba Inu price can close above the July 9 high at $0.00001190, the bulls should be able to rally back to $0.00001700, which would result in a 70% increase from the current Shiba Inu price.