ShibaInu [SHIB] presents another imbalance on the charts- should you short it
Shiba Inu’s [SHIB] Price PredictionNow, another such imbalance was seen. However, the reaction from this zone has not been as clean as before. Was this a sign that a reversal was about to arrive, or will the bears continue to book profits on the meme coin?In white, two fair value gaps on the 4-hour chart are marked. The RSI was below neutral 50 over the past two weeks to indicate strong bearish momentum and a downtrend. The market structure was also bearish on the H4 and D1 timeframes.
Unlike the previous surge into the FVG and rejection, the move into the imbalance in the past couple of days did not meet a quick rejection. This indicated the possibility that buyers had found their footing in the market. Even then, there would likely be resistance from the bearish breaker at $0.0000109. Hence, more cautious traders can choose to wait for more clarity instead of attempting to short the asset.The funding rate was positive over the weekend and showed that sentiment could begin to shift in favor of the buyers. But the Open Interest showed no significant spike even though the prices saw a small bounce of 3.5% in the past 24 hours.
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