SHIB

SHIB AI trading (Date: 2025/05/05 02:00 UTC) decision background is summarized.

Technical Analysis

Looking at the daily chart of the SHIB coin, it shows that the trend over the past 300 days has been downward. The current price is 0.0181, which is significantly lower than before.
The most recent candlestick indicates a strong average selling pressure. According to the moving average (MA) analysis, the short-term MA is crossing below the medium-term MA. This suggests the possibility of additional downward pressure.
Additionally, the Relative Strength Index (RSI) is around 30, indicating an oversold condition, which suggests a potential for a short-term rebound, but the overall trend remains bearish.
The MACD also maintains a negative shadow and indicates a sell signal, while trading volume continues to decline, necessitating an evaluation of support around the current low of 0.0176.

External Factors and Market Trend Analysis

Recent major news for the SHIB coin includes changes in its relationship with the Ethereum network and a decline in investor sentiment due to congestion in the NFT market. In particular, the decline of Bitcoin and Ethereum, which are the market leaders, is putting pressure on the SHIB coin, prompting investors to move to safe assets.
Moreover, with the poor performance of other altcoins, downward pressure on the SHIB coin continues. As market volatility increases and uncertainty persists, even if a short-term rebound occurs, significant gains are unlikely, and the probability of a restructuring similar to a zero-sum game is high.
In conclusion, considering the current market situation, it is deemed a wiser strategy to sell SHIB coins rather than hold them.