The price of shiba inu (SHIB) is experiencing a bearish wave, as Fed officials paint a gloomy picture of the dynamics of the exchange rate. According to cryptanalyst Philip L., the price of SHIB is being held back as quarterly growth has made investors nervous. The analyst expects a correction from SHIB to $0.000002200. We have prepared for our readers Philip L.’s analyses with his own narration.
When to buy a Shiba Inu (SHIB) before it explodes?
The price of shiba inu (SHIB) is falling below $0.00002600 as it was rejected by the monthly pivot at $0.00002550 after the formation of a bull trap. In addition, the Relative strength index (RSI) is falling below 50, indicating a decline in interest from traders as traders get nervous as a new earnings quarter starts today. Meanwhile, as reported in the news Kriptokoin.com The comments made by the Fed this morning probably outlined a more hawkish course trajectory in the near future. This is important for determining risk appetite in the coming weeks and months and may push the price of SHIB to $0.00002200 at the moment, which will lead to a loss of 12%.
SHIB continues to fall after bulls tried to bounce above the monthly pivot at $0.00002550 on Monday. Instead, the bulls were defeated at the opening on Tuesday, as trading volume rose after the holidays. Investors are already expecting a rude awakening after several comments from a Fed representative indicating a 0.75% rate hike at the next Fed meeting. ASIA PAC investors quickly returned the SHIB tokens in cash and tried to stay away for a while.
Thus, the price of SHIB will fall further in today’s session and possibly over the next few days. Tomorrow, NETFLIX will report earnings after the bell, which will be considered a leading indicator for FAANG and Nasdaq stocks, an event worth watching closely. Investors can continue to withdraw cash from SHIB. This could lead to a long-term green upward trend line, a monthly reversal of S1 just below and a 12% correction of the triple bottom from April 11 to $0.00002200 to fix the price action.
If the growth before the opening of trading in the US signals a wave of positive news, a rapid price reversal may occur. In this case, the RSI will rise above 50, attracting more buyers and investors and opening the way for the SHIB price to rise above $0.00002550. With a one-day closure above this level, the road will be paved at $0.000002800 with an 11 percent increase in the coming days.
