SHIB price struggles on high timeframes despite showing bullish sentiment to trend higher. SHIB trades below support as the price looks bearish with the current market state as the price closed the weekly candle below the previous. The price of SHIB eyes key support as price trades below 8 and 20-day EMA. The price of Shiba Inu (SHIB) saw some bullish formation as the price broke out of a descending triangle, but the price has struggled to trend higher against tether (USDT). The previous week saw the crypto market cap looking good as prices of Bitcoin (BTC) and other crypto assets, including Shiba Inu, showed a glimpse of a rally. But this hope was cut short as the weekly candle didn’t look promising as the previous. (Data from Binance) Related Reading: Solana Shines In Trending Searches In Last 7 Days – But SOL Price A Different Story Crypto Market Update The crypto market is not looking good like the previous week, as many altcoins and major crypto assets made good strides bouncing off from support. Some altcoins continued with their double-digit gains as many traders glamoured for more of such a week. The new week is reversed, as most crypto assets have shown retracement within the first few days. Shiba Inu (SHIB) Price Analysis On The Weekly Chart. Despite showing some great price movement recently, the price of SHIB on the weekly chart failed to break above the key resistance of $0.0000117 as the price was rejected ...
