SHIB/USD - At a crossroad, can it break the downtrend? 😱

Shiba is in a massive descending channel as shown by the chart. Lower lows and lower highs have been a constant in the past weeks.

However, there are some early signs on the indicators that we may be preparing to pump soon.

The RSI has been making HIGHER LOWs despite price falling lower = BULLISH divergence.

MACD histogram is also painting a bullish divergence.

These are early signs that a possible reversal or at least a stop in the downtrend is imminent. If Shiba can stop the bleeding and sit above the current support at $0.000034, then bulls will have a great base for a rally.

The first signal that this downtrend is over will be given if Shiba can leave this channel and break again above $0.000047. That will be a clear confirmation of the trend reversing.

Right now that appears far away, but don't be too disappointed. Price is curving nicely on this support and we all know Shiba can pump fast... so a reversal can be quick.

Also watch out for BTC and ETH as they will impact Shiba. See my ideas linked below.

Shiba bias is mildly bullish on this price action and a high risk / high reward play is buying the current support with a good stop under it.

Like and follow if you liked my idea!