The cryptocurrency market continues to sail in agitated waters while global economic tensions weigh on the feeling of investors.
Shiba Inu established a resistance zone around 0.00001467 to $ 0.00001470, where high volume sale prevented the ascending movement, according to the Technical Analysis Data model of Coindesk Research.
The formation of lower ups from recent peaks indicates an increase in down pressure, although the token has found a support between 0.00001426 to 0.00001436 $.
Recent data show that Shiba Inu has experienced a spectacular drop of 74% of large volumes of transactions, from 5.76 shibs to only 1.47 Billion in five days. This significant drop in whale activity has created liquidity contraction in the ecosystem, entries and exits more than 80% in the last month.
Despite these challenges, several analysts maintain upward perspectives on the future of Shib.
Some indicate the expansion ecosystem of the token, including the development of shibarium, as reasons of long -term optimism. Changelly analysts predict that Shib could reach $ 0.0001 by 2029, while more ambitious forecasts suggest a potential price of $ 0.01 by 2040, although this would require a significant reduction in the offer by symbolic burns.
Strengths of technical analysis
- Shib presented notable volatility over the period 24 hours a day, with prices ranging from a summit of 0.00001469 to a minimum of $ 0.00001425, representing a range of 3%.
- The token has established a significant resistance zone around 0.00001467 to $ 0.00001470, where high volume sale emerged during the 1:00 p.m. and 5:00 p.m., preventing more ascending movements.
- The support levels trained at 0.00001426 at $ 0.00001436, the price bouncing several times, although the volume profile suggests decline the buyer’s interest.
- The formation of lower ups since the 5:00 pic indicates an increase in down pressure, the price finally depositing at $ 0.00001430, down 1.78% compared to the top of the period.
- During the last hour, SHIB demonstrated a notable recovery scheme, from 0.00001427 to $ 0.00001431, representing a gain of 0.28%.
- The token established a solid support area at 0.00001429 at $ 0.00001430, which succeeded for several tests at 07:26 and 07:30.
- Analysis of the volume reveals an increase in interest in buyers, a significant accumulation occurring during period 07: 41-07: 44 when prices reached the session of $ 0.00001436.
- The highest stockings since 07:56 suggests creating a bullish momentum, although the resistance remains at 0.00001433 at $ 0.00001435 where the sales pressure emerged at 07:55.
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