Shiba Inu (Shib) The whales have intensified their sales as the recovery of cryptocurrency prices seeks to accumulate steam along with an increase in futures market activity. The lower resistance path still seems to be on the upper side.
Shib, the second largest memes token in the world by market value, traded above the fibonacci setback of 23.6% of the sale of May and June from writing, more than 1% at level 24 hours, according to Coindesk data.
RSI Alcista
Prices have earned more than 5% in a week along with bullish signs of key indicators such as the 14 -day relative force index. The impulse oscillator has crossed the upward territory above 50 for the first time since May 23.
The support of the Bull case is found volume figures, which have exceeded the daily average of 307.5 billion tokens during the recent price recovery phase, according to data tracked by Coindesk’s investigation.
The open interest increases as whales are sold
Meanwhile, the open interest in perpetual future listed in Binance has exceeded the 7 million Shib brand since May 23, according to the veil data source. The increase, accompanied by positive financing rates, suggests a greater interest of investors in betting on continuing prices.
However, the ascent could be challenged by whales and experts who move billions of currencies to exchanges, with ten wallets that control more than half of the total token supply.
Key insights
- Support area at $ 0.00001172- $ 0.00001175 attracts high volume purchase interests.
- Resistance at $ 0.00001196 CAPS UPSIDE MOVES with consistent reversions.
- The volume exceeds the daily average of tokens of 307.5 billion during the recovery phase.
- INTOY HIGH $ 0.00001195 represents a gain of 1% of the open session.
- Resistance test of 7.25 billion token volume during the attempted breakdown.
(Discharge of responsibility: Parts of this article were generated with the assistance of artificial intelligence tools and reviewed by our editorial team to guarantee the precision and compliance with Our standards. For more information, see Complete AI of Coindesk).
