Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Recently looked at SHIB's technicals, and the situation isn't very optimistic. This coin broke below a long-held upward trend line a few days ago, and yesterday it dropped over 3%, closing at $0.00000577. It seems the bears have finally regained control.
Even more disheartening, SHIB has formed a bearish engulfing pattern on the weekly chart, with last week's decline completely erasing the gains from the previous week. Trading volume is also shrinking, indicating that everyone is on the sidelines. These are all bearish signals. The next support level is at $0.00000520; if it breaks below, it could return to the February lows.
But there is still a glimmer of hope — SHIB is still within the parallel channel formed in March, which could be the last line of defense. Overall, Shiba Inu has limited room for short-term recovery, and it’s worth watching the subsequent developments.