The Shiba Inu token has demonstrated remarkable resilience despite a wider market volatility, successfully breaking the key resistance levels while maintaining the position above the major averages, according to the Technical Analysis Data model of Coindesk Research.
The technical indicators suggest a continuous optimistic feeling, although the action of short -term prices shows a certain consolidation after the recent gains.
Market analysis reveals that around 80% of SHIB holders are currently underwater at current prices, with only 16.59% profits.
However, this did not alleviate the enthusiasm of the community while development continues on Shibarium, the layer 2-scale solution designed to improve the usefulness of Shib beyond its money.
Strengths of technical analysis
- SHIB demonstrated remarkable resilience during the 24 -hour period, from a minimum of 0.00001399 to a maximum of 0.00001492, representing a fork of 6.7%.
- Prices action was a clear rise in highest trend with higher stockings establishing support at 0.00001428.
- Significant volume peaks greater than average 24 hours a day at 1:00 p.m. and 02:00 have confirmed a strong purchase interest.
- Notable resistance appeared at 0.00001467, although Shib managed to cross this level in the last hours.
- SHIB closed at 0.00001474 with Momentum indicators suggesting a continuous optimistic feeling.
- The token maintains the position above all the key mobiles.
- During the last hour, SHIB experienced notable volatility with a clear drop trend, going from 0.00001485 to 0.00001475, representing a drop of 0.7%.
- The token reached its peak at 0.00001487 at 02:34 before meeting a sale pressure.
- The sales pressure intensified around 02: 45-02: 47, pushing the prices to a session hollow of 0.00001471.
- The volume analysis reveals significant distribution at higher levels, especially during candles 02:42 and 03:04. •
- The volume greater than the average has coincided with the refusals of prices. •
- Despite a modest recovery attempt in the last minutes with higher stockings forming approximately 0.00001474, Shib remains below the key resistance established during the previous 24 -hour rally.
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