#Shiba Inu surged initially, reaching a peak of $0.00002632, but subsequently experienced a sharp decline.
On the 4-hour chart, Shiba Inu failed to break out of the falling channel and retreated.
Analysis reveals SHIB's inability to breach the 50% Fibonacci Level and the 50-day Moving Average, leading to a retreat.
Amidst a rebound in price, Shiba Inu wallets sold 211 billion SHIB, triggering bearish sentiments about its future trajectory.
Notably, the sell-wall coincided with the neckline of a double-bottom pattern.
Bullish momentum hinges on overcoming this double roadblock and flipping the market structure to bullish by reclaiming levels above $0.0000270.
According To Coingabbar's analysis, Conversely, a strong rejection at the double roadblock could prompt sellers to drive SHIB down to $0.0000200 once more.
KEY LEVELS :
RESISTANCE LEVEL : $0.00002650-$0.00003000
SUPPORT LEVEL : $0.000020000-$0.000017000
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