$SHIB finally reaches a solid support level that might be used as a foundation for a proper recovery
is a period of consolidation, with the price continuing to trade within a narrow range around the $0.00001 support level. This scenario might unfold if the RSI remains stable around the 40 mark and trading volume remains relatively low, indicating a lack of strong buying or selling pressure.
In this case, traders might choose to wait on the sidelines, looking for a clearer signal of the coin's future direction before making any trades. It is worth noting that consolidation phases can last for extended periods before a decisive breakout occurs, either to the upside or downside. The third scenario involves a breakdown of the $0.00001 support level, leading to further declines in SHIB's price. This could happen if the trading volume increases on the sell side and the RSI continues to drop, signaling bearish momentum.
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