Shiba Inu Trading Range Tightens, Breakout Imminent
- Decreased Market Volatility: Shiba Inu has experienced a significant decline in price volatility, with reduced market activity reflected in smaller candlestick patterns, indicating cautious investor sentiment that often precedes a strong directional move.
- Support Levels Remain Intact: The token has consistently traded within the support range of $0.00000564 to $0.00000550, demonstrating stability and maintaining the potential for an upward retest, despite facing resistance at $0.0000060.
- On-Chain Data Indicates Accumulation: In the past 24 hours, exchange outflows surged by 40.5%, with over 321 billion tokens moving into private wallets, suggesting that holders are increasingly confident in retaining their assets, thereby reducing selling pressure.
- Significant Increase in Burn Rate: During the same period, more than 4.1 million Shiba Inu tokens were permanently removed from circulation, a mechanism that supports long-term value by limiting supply and further bolstering market confidence in the token.
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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 | 0.00000528 | 0.00000551 | 0.00000572 | 0.00000595 | 0.00000616 | 0.00000639 | 0.0000066 |
| Fibonacci | 0.00000551 | 0.00000568 | 0.00000578 | 0.00000595 | 0.00000612 | 0.00000622 | 0.00000639 |
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