Shiba Inu hovers near the 100-day moving average (EMA), signifying a important balance for the token. A drop below this level could trigger significant selling, making the current position a critical one for the coin. For several days, if not weeks, SHIB has been stuck in a consolidation phase at this pivotal point. The actions of investors currently hold great significance.
Lately, SHIB has been frequently referencing the 100 EMA as a significant support level. Should it fall beneath this point, there’s a risk of considerable price declines.
According to the graph’s indication, SHIB is precariously close to slipping further. If the token falls below the 100 Exponential Moving Average (EMA), its next significant support level lies at the 200 EMA, which is even lower. This could be a warning sign of a potential sharp price decrease. However, if SHIB rebounds from the 100 EMA, it will resume its uptrend in the market.
To experience growth, Shib needs to surpass the resistance cluster overhead, aiming for approximately $0.000022 as a potential first milestone. This could mark the beginning of an upward trend. Nevertheless, the circumstances remain challenging, and investor confidence in Shib may be put to the test in the near future.
Can Shiba Inu hold its ground amidst the market instability, or will it succumb to the stress? Given the current volatile condition of the market, each action carries significant weight, and Shiba Inu’s next move could shape its future trend for the coming weeks and months.
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2024-04-18 15:52