SHIB has been decreasing since Oct 28, when it reached a high of $0.00008854. So far, it has reached a low of $0.00004312 on Nov 4. This amounted to a downward move of 52%.
The high was reached inside an area suitable for a local top. The high was made between the 1.61 external Fib retracement level (white) when measuring the downward movement in May, and the 4.618 level when measuring the drop in October (black).
Furthermore, it was combined with a bearish divergence in the RSI. This occurs when the price creates a higher high but the indicator creates a lower high. The RSI is a momentum indicator, and this reading suggests that the increase in price was not accompanied by an increase in momentum.
