Shiba Inu Exchange Outflows Plunge 21%
- Significant Outflow Decline: Shiba Inu's exchange outflows have dropped by 21.5% in the last 24 hours, indicating a waning interest among investors in withdrawing SHIB from trading platforms, likely reflecting increased market uncertainty.
- Technical Weakness: The token has broken downward from a rising wedge pattern established since March, with current prices trading below both short and medium-term moving averages, signaling ongoing technical weakness, even as it hovers near the key support level of $0.00000550.
- Cautious Market Participants: The reduction in outflows typically suggests that major investors are preparing for a shift in market sentiment, with the current low outflow and transfer activity indicating a wait-and-see approach among market participants, limiting sudden buying and selling pressures.
- Critical Support and Resistance: Should Shiba Inu maintain above the $0.00000550 support level, a new upward attempt could emerge in the coming days, but prices may face resistance between $0.00000630 and $0.00000650, with overall market fragility posing risks for sudden losses.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000474 | 0.00000511 | 0.00000541 | 0.00000578 | 0.00000608 | 0.00000645 | 0.00000675 |
| Fibonacci | 0.00000511 | 0.00000537 | 0.00000553 | 0.00000578 | 0.00000604 | 0.0000062 | 0.00000645 |
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