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Sujit Kumar
Feb 17, 2025
by Sujit Kumar

Shiba Inu Struggles to Break Key Resistance, Facing Downward Pressure

Shiba Inu Struggles

Table of contents

  1. Future Outlook for SHIB
Shiba Inu (SHIB) has hit a critical barrier in its price action as it fails to break an important resistance level. The most recent trading activity shows that the 26 EMA remains the primary and strongest resistance, preventing SHIB from climbing higher. Notably, the 468 trillion SHIB profitability level has now transformed into a potent resistance zone. On-chain data had previously shown this level as a region where many investors were making gains, but the recent unsuccessful push higher has now turned it into a significant hurdle.

Waning Investor Conviction and Technical Indicators

Technical metrics indicate that a large number of SHIB holders are currently out of the money, suggesting that investors are sustaining losses. The Global In/Out of the Money metric reflects waning bullish conviction, as significant buying pressure appears to be lacking. With SHIB trading without enough momentum, it seems unlikely that it will recover its previous support levels without a substantial change in market sentiment. The continuous rejection by the 26 EMA is a clear signal that downward pressure remains in control.

Future Outlook for SHIB

Unless SHIB manages to break above the critical 26 EMA, the chances for a recovery remain slim. Analysts caution that without renewed buying interest, SHIB may continue to decline toward $0.000015 or even lower. On the flip side, a breakout above the 26 EMA could potentially spark a rally, allowing SHIB to target resistance levels at $0.00001769 and $0.00002016. However, given the current market conditions, sustained recovery appears unlikely, underscoring continued market hesitancy and investor prudence.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Shiba Inu Struggles
Shiba Inu Struggles to Break Key Resistance, Facing Downward Pressure
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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