Shiba Inu (SHIB) Retraces to Support Levels, Caution Pending

According to my expectations, Shiba Inu (SHIB) retraced to the 12 area or even lower. Due to the existing divergences, I currently do not recommend buying this cryptocurrency for new entries. The situation might become attractive if SHIB can establish a weekly stability above 0.000015.

Based on the analysis, SHIB is showing signs of a significant correction by pulling back to critical support levels, which align with my bearish outlook especially given the divergence signals. These divergences often suggest a potential weakening of the current momentum, implying caution for new investors considering entry points now.

For traders and investors, the current retracement might serve as a price correction rather than a reversal. Monitoring for a sustained weekly stability above 0.000015 could signal a potential bullish turnaround, but until then, the risk remains elevated.

It is wise to wait for confirmation of price stability or a reversal pattern before considering any fresh long positions. Patience and vigilance are key, and it’s important to follow the technical signals closely to avoid entering during a weak correction phase.