Shiba Inu Could Be Bearish, But This Pattern Suggests Otherwise

Shiba Inu had picked up momentum just a week back when it soared by 35% following the news of the Robinhood listing. The broader market currently exhibits weakness as Bitcoin continues to struggle beneath the $40,000 mark. Ethereum also was priced at $2900 at press time. The king altcoin was rejected from the $3000 level over the past trading sessions. The meme-coin is consolidating at the moment. SHIB has been sandwiched between $0.00003000 and $0.00002000 respectively. Buying strength subsequently has been adversely affected owing to the consolidation. In the last 24 hours, Shiba Inu lost 3% of its value and over the past week, it depreciated by 7%. The global cryptocurrency market cap was at $1.93 Trillion with a fall of 1.4% in the past 24 hours. Shiba Inu Price Analysis: One-Day Chart Shiba Inu was priced at $0.00002369 at the time of writing. Prices had been moving sideways for a considerable period of time. Buyers have decided to steer clear of the meme-coin as the short-term reading depicts bearishness on the charts. The coin, however, flashes a bullish pattern on the one-day chart. The above chart displayed the “Adam” and “Eve” pattern continuously for the 109th day and it continues to exhibit the same. This technical formation is considered to be bullish. The two distinctive valleys that have formed on the charts are referred to as Adam (Triangle) and Eve (Semi-Circle). At $0.00003289, SHIB is...