Shiba

Resistance

Shiba Inu

Coin

<ul class="news-points wp-block-list" "wp-block-list"> 
 <li>Shiba Inu faces resistance at the 50-day EMA, signaling potential bearish continuation ahead.</li> 
 <li>Large holder outflows rise by 53%, signaling stronger bearish sentiment in Shiba Inu’s market.</li> 
 <li>Despite recent recovery, Shiba Inu struggles as bears dominate the market sentiment.</li> 
</ul> 
Even after a recent <a href="https://coinedition.com/major-exchange-boosts-shiba-inu-adoption-shiba-inu-whales-rush-to-buy-shib-and-shiba-shootout-for-unprecedented-gains/">jump in price</a>, Shiba Inu (SHIB) is showing signs of bearish pressure. The meme coin saw a 6.87% increase over the last week, but has now hit serious resistance. The bearish trend is evident on the <a href="https://www.tradingview.com/x/vYknOu9h/" target="_blank">daily chart</a>, with SHIB trading within a falling channel. 
Currently, Shiba Inu’s price is staying at <a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="nofollow">$0.00001431</a>, down 3.26% in the last 24 hours. This comes after a 6.70% drop in the last two days. The coin is struggling to break through the 50-day exponential moving average (EMA), which is acting as a resistance level. The evening star pattern at this EMA suggests higher price rejection, pointing towards a potential bear cycle. 
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 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeRVPT8_iBE39C6JzeyODIjj4WNf0DjVBYDapIkAAm_02xOcZLTVfWAvQ77GXwRl1FbISPDdBmWFXq3Zh1RvIO9DakPvbub-XaA176pcu3-6mXbFr7iqLLjO16DrvV09y3G3DVlWkPGXq6ZBlJXcm27G-x3?key=_QERvMzMkPjIQJfUhJ_iQA" alt="">
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In the short term, Shiba Inu is consolidating between the 20-day and 50-day EMAs. The price action reveals a pullback in the 1-hour chart, with the SHIB price tracing back below the 50% Fibonacci retracement level. The next support levels are ide…
The post <a href="https://coinedition.com/shib-price-analysis-key-support-resistance-levels-to-watch/">SHIB Price Analysis: Key Support &amp; Resistance Levels to Watch</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

SHIB Price Analysis: Key Support & Resistance Levels to Watch

Coin Edition

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