SHRUB/USDT Positioned for Further Downward Corrections

The SHRUB/USDT market has experienced significant downward corrections over time, pushing the price below multiple key levels. As a result, price action has dropped below critical technical levels, indicating that the market may be poised for further declines.

Shrub Statistics:

SHRUB Current Price: $0.006138

Market Capitalization: $5.78M

Circulating Supply: 942.18M

Total Supply: 950M

CoinMarketCap Rank: 1291

Key Price Levels:

Resistance: $0.006500, $0.007000, $0.007500

Support: $0.006000, $0.005500, $0.005000

Shrub’s Low Volatility Confines Price Action Below Key Levels

Price activity in the SHRUB/USDT daily market has taken on a subdued appearance. The daily chart shows that price action has been declining consistently, moving from one low to another. Currently, market activity appears to lack momentum due to reduced participation.

Although the market remains largely in consolidation, the ongoing session is bearish, suggesting that further declines may occur. Meanwhile, the Stochastic RSI lines are trending upward from the oversold region. However, this movement does not indicate strong bullish momentum, implying that buyers remain weak.

SHRUB/USDT Holds Promise for Bear Traders

On the 4-hour chart, price action has fallen below all MA lines. The market has been in a downward retracement for the past four sessions, with trading continuing below all MA curves.

Additionally, the Stochastic RSI lines have continued to decline deeper into the oversold region. This supports the expectation that price action may move lower, as the indicator continues sliding downward. Given this trend, targeting a retracement toward the $0.005000 price level appears to be a logical expectation.

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