SHIB price struggles amid market volatility. Technical analysis and key support levels discussed. Short-term outlook remains dependent on overall market conditions.
While the cryptocurrency market has been on a relatively upward trend in recent days, SHIB has failed to capitalize on this and is now experiencing a significant corrective phase. Technical data indicates that SHIB has faced intense selling pressure, losing over 3% of its value in a daily candle without even reaching important resistance levels. Concerns about the recent uptrend being fragile have increased, as it seems the previous growth was more due to the overall positive market sentiment and the rise in Bitcoin and major altcoins prices rather than a sustainable and independent uptrend.
