Shiba Inu faces turning point as market momentum may be cooling off

Shiba Inu has reached a turning point. After climbing towards the 50 EMA, the SHIB has suffered a dramatic meat at the 50-day EMA. This shift away from the 50 EMA suggests that SHIB's momentum is, cooling in line with the overall trend in the cryptocurrency market. This lumber is occurring in neutral volume, suggesting a lack of commitment from traders to drive SHIB prices. The market's apprehension is also reflected in the RSI, which is in the middle of the 50's, which usually indicates a state that is neither overbought nor oversold.The RSI is somewhat reflective of the market's current indecisiveness.The inability of SHIB to make a breakout above the 50 EMA is reflective of the current state of the market, which is characterized by a lack of purchasing power in different assets supporting the level at $0.000021, which serves as the immediate floor for the SHIB. A break below this line could lead to further declines with possible support at the lower boundary of the trading channel near $0.000012. If the SHIB is able to rally and swallow the 50 EMA, then there could be targeted resistance levels. The first area of contention would be the recent highs, around the $0.00003 range. However, a higher upside path for the SHIB may not be far away as it would take a lot of market participation and a change in sentiment to drive such a move higher.The next move for the SHIB depends on whether it can find the strength to rally from current levels or if a pause in the market causes a consuming pullback. We should continue to track the support at $0.000021 and the food from it. There is a lot of potential for a strong and quick bullish pullback and abandoning the SHIB has proven to be an unwise decision.