The cryptocurrency market continues to browse the choppy waters as global economic tensions weigh on the feeling of investors.
Shiba Inu has established a resistance zone around $ 0.00001467- $ 0.00001470, where high volume sale has prevented the ascending movement, according to the technical analysis data model of Coindesk Research.
The formation of lower maximums from the recent peaks indicates a growing bearish pressure, although the Token has found support between $ 0.00001426- $ 0.00001436.
Recent data show that Shiba Inu experienced a dramatic decrease of 74% in large volumes of transactions, falling from 5.76 billion Shib to only 1.47 billion in five days. This significant fall in whale activity has created a liquidity contraction in the ecosystem, with inputs and exits decreasing by more than 80% in the last month.
Despite these challenges, several analysts maintain bullish perspectives on Shib’s future.
Some point to the token expansion ecosystem, including the development of Shibarium, as reasons for long -term optimism. Changelly analysts predict that Shib could reach $ 0.0001 by 2029, while the most ambitious forecasts suggest a possible price of $ 0.01 by 2040, although this would require a significant reduction of supply through tokens burns.
TECHNICAL ANALYSIS
- Shib exhibited remarkable volatility during the 24 -hour period, with prices ranging from a maximum of $ 0.00001469 to a minimum of $ 0.00001425, which represents a range of 3%.
- The Token established a significant resistance zone around $ 0.00001467- $ 0.00001470, where high volume sale arose during 1:00 p.m. and 5:00 p.m., avoiding a more upward movement.
- The support levels were formed at $ 0.00001426- $ 0.00001436, with the price bouncing at these levels several times, although the decreasing volume profile suggests a reducing interest of the buyer.
- The formation of lower maximums from the peak of 17:00 indicates a growing bearish pressure, with the price that is finally settled at $ 0.00001430, 1.78% less than the maximum of the period.
- In the last hour, Shib demonstrated a remarkable recovery pattern, rising from $ 0.00001427 to $ 0.00001431, which represents a gain of 0.28%.
- The Token established a solid support zone at $ 0.00001429- $ 0.00001430, which remained successfully for multiple tests at 07:26 and 07:30.
- The volume analysis reveals a growing interest of the buyer, with a significant accumulation that occurs during period 07: 41-07: 44 when prices reached the maximum of the $ 0.00001436 session.
- The formation of higher minimums from 07:56 suggests building an upward impulse, although the resistance remains at the level of $ 0.00001433- $ 0.00001435 where the sale pressure arose at 07:55.
External references
