The Shiba Inu (Shib) whales went to hunt negotiations earlier this week after prices fell to a minimum of 16 months of $ 0.00001005.
According to AI de Coindesk, whales bought 10.4 billion tokens Shib, with a value of more than $ 110 million, Monday, marking the largest daily accumulation in five months.
The whale action has probably contributed to the pricing of 17% of the cryptocurrency of the minimum of 16 months reached Sunday. Keep in mind that the broader cryptographic market has stabilized after the initial reaction of the knee to tensions in the Middle East. BTC, which fell below $ 100K over the weekend, changed its hands for the last time about $ 106,000.
Market data indicates that Shib maintains a generally constructive posture, with higher minimums that form a subtle channel of upward trend. The Token found a significant volume support at the level of $ 0.00001158 during the 24 hours of June 24 from 09:00 to June 25, 08:00, with a negotiation volume increasing to 439 billion, well above the daily average.
This accumulation at support levels suggests the continuous rise impulse potential if the resistance of $ 0.00001175 can be eliminated decisively. At the time of writing, Shib quoted in around $ 0.00001162 in the main exchanges, according to Coindesk data.
Key insights
- The highest minimums formed a subtle channel of bullish trend, which suggests accumulation to support and potential levels for continuous rising impulse if the resistance of $ 0.00001175 is cleaned.
- During the 60 minutes of June 25 from 07:06 to 08:05, Shib rose from $ 0.00001169 to $ 0.00001171, which represents a gain of 0.2%.
- There was a significant increase in prices between 07: 25-07: 27, with a maximum volume at 12.36 billion Shib as prices reached the maximum of the $ 0.00001175 session.
- The price action formed an ascending channel with higher minimums, although acute correction at 08:03 tested the support level of $ 0.00001171, which suggests consolidation after the previous rally.
Graph per hour
Shibs recovery has stagnated since Tuesday, with the prices that are quoted in what seems to be a descending triangle, characterized by a line of trend that falls and a horizontal support line.
A price movement through the descending trend line would indicate a continuation of the recovery rally, exposing the resistance of June 16 above $ 0.00001230. On the contrary, a breakdown of the triangle would indicate a lower bearish investment.
