SHIB Technical Analysis in a Weekly Timeframe

Hello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:

SHIB is currently in a downtrend and is likely to fall further if the market faces another bearish scenario.

The price at $0.0000135 is currently hovering between support and resistance. The RSI is close to the oversold zone, indicating some room for further bearish movement.

A quick market reversal could change the outlook, but nothing can be confirmed at this time.

Key levels:

- Lower Support: $0.000006836
- Primary Resistance: $0.00001799
- Resistance Trendline: $0.000025
- Target: Previous all-time high

DYOR, NFA.

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