As a seasoned researcher with years of experience navigating the volatile world of cryptocurrencies, I’ve learned to never underestimate the power of technical levels. The approaching 26-day Exponential Moving Average (EMA) for Shiba Inu (SHIB) is shaping up to be a significant hurdle indeed.
As a crypto investor, I’m finding myself approaching the 26-day Exponential Moving Average (EMA) with Shiba Inu, and this technical hurdle seems quite formidable. At this critical juncture, the Shiba Inu token is gearing up for an intense struggle against a colossal 500 trillion SHIB barrier, as suggested by data from IntoTheBlock.
At this point, the fate of the cryptocurrency may hinge on whether it manages to surpass this current resistance. If successful, it could lead to an uptrend (bullish reversal). However, if it fails, there’s potential for a substantial drop in price.
Following a lengthy slide in price, Shiba Inu (SHIB) is now being traded at approximately $0.00001439, suggesting potential signs of an upturn. However, the 26 Exponential Moving Average (EMA), serving as a significant resistance barrier, could prove to be a substantial hurdle in its recovery.
Approximately 500 trillion Shiba Inu tokens seem to be linked to the current price level based on available data, implying that numerous investors might be contemplating a sale if the price nears or slightly exceeds this threshold. The $0.00001556 level is the next significant resistance above the 26 EMA, as indicated by the support and resistance lines.
As a researcher, I’m closely monitoring the trajectory of SHIB. Overcoming the 26 Exponential Moving Average (EMA) and maintaining an upward trend will be crucial for its continued success. At the levels of $0.000013 and $0.000012, you’ll find quick support in case of a decline. However, if SHIB fails to breach the 26 EMA and the price corrects, these support levels might come under pressure.
Based on IntoTheBlock’s In/Out of the Money Around Price indicator, approximately 60,000 investors currently hold Shib tokens at prices above their acquisition costs. This suggests that there is a substantial amount of potential sellers at current levels, which could make it challenging for SHIB to surpass the 26 EMA and might lead to a price reversal if buying pressure does not increase significantly.
Read More
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- ENA PREDICTION. ENA cryptocurrency
- USD ZAR PREDICTION
- USD PHP PREDICTION
- WIF PREDICTION. WIF cryptocurrency
- HYDRA PREDICTION. HYDRA cryptocurrency
- MDT PREDICTION. MDT cryptocurrency
- USD VES PREDICTION
2024-08-23 14:50