SHIB plummeted then instantly rebounded, with a long lower shadow indicating active buying on dips, and short-term risks are actually reduced

【Crypto World】SHIB once plunged 7%, briefly breaking through short-term support, but quickly rebounded. The long lower shadow on the daily candlestick clearly indicates that this is a buying dip behavior, and market liquidity is not bad.

Although under pressure below the downward moving average, the rebound strength is not weak, indicating that buyers have been holding their ground. This signal is very important; at least in the short term, there is no need to worry too much about a sharp decline. While RSI and other momentum indicators have cooled down, they are far from being extremely oversold, and the market is just consolidating.

There is indeed pressure above, but the last round of selling did not push the price down completely, which just shows that there is demand below. If the bulls can hold the current price line, SHIB is likely to see a rebound and recovery. The key is whether this support level can hold steady.