Shiba

Cardano

Impact

Resistance

Shiba Inu

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/cardano-and-shiba-inu-navigate-price-pressure-and-sell-off-risks" rel="noopener noreferrer nofollow">Cardano and Shiba Inu Navigate Price Pressure and Sell-Off Risks</a><br></p>
<p style="text-align: justify">Recent trends indicate that <a href="https://en.bitcoinhaber.net/cardano-ada-faces-decline-despite-transaction-volume-surge" rel="noopener noreferrer nofollow">Cardano</a> (<a href="https://en.bitcoinhaber.net/cardanos-market-value-stumbles-following-crypto-downturn" rel="noopener noreferrer nofollow">ADA</a>) and Shiba Inu (SHIB) are navigating a challenging market with subdued price movements and potential downward trends. Cardano has been struggling to maintain its footing above the $0.568 support level, risking a precarious drop. Concurrently, Shiba Inu has witnessed a notable decline of 13% as it approaches a critical demand zone. Market watchers have highlighted that a considerable share of holders for both cryptocurrencies are currently enduring losses, with the likelihood of sell-offs increasing if prices surge.</p>
<h2 id="investor-sentiment-and-market-impact">Investor Sentiment and Market Impact</h2>
<p style="text-align: justify">When investors find themselves “out of the money,” it means the market price of their holdings is less than the price at which they invested. This is the case for about half of ADA investors and 28% of SHIB investors, based on IntoTheBlock data. This scenario suggests potential selling pressure upon a price hike as investors aim to break even or secure profits, which may hinder price recovery.</p>
<p style="text-align: justify">For ADA, the anticipation of selling pressure is more pronounced, given the higher percentage of investors facing a loss. Technical analysis could shed light on the intensity and likely regions where this pressure could mount.</p>
<h2 id="technical-analysis-and-price-trajectories">Technical Analysis and Price Trajectories</h2>
<p style="text-align: justify">Cardano experienced a spike to $0.81 in March but has since retracted to a lower support level with a notable dip in trading volume, indicating a consolidation phase. While a rally is not currently on the horizon, ADA might experience further pullback, potentially towards the $0.525 region. Resistance levels are expected to be formidable, particularly around the $0.8 to $0.84 and $1 to $1.05 price ranges.</p>
<h2 id="shiba-inu-s-market-movement">Shiba Inu’s Market Movement</h2>
<p style="text-align: justify">Similar to ADA, Shiba Inu is also displaying signs of consolidation, with a reduced trading volume and difficulties in overcoming previous support levels. The key price regions to monitor for SHIB include the $0.000031 to $0.000032 and $0.000039 to $0.00004 ranges, as these could be pivotal in the coin’s short-term price direction.</p>
<h2 id="points-to-consider">Points to Consider</h2>
<ul>
 <li>ADA’s support level at $0.568 is critical, with a potential decline to $0.525 if it fails to hold.</li>
 <li>Price surges may trigger a sell-off, especially from investors currently at a loss.</li>
 <li>Resistance zones for ADA at $0.8-$0.84 and $1-$1.05 could cap upward trends.</li>
 <li>SHIB faces resistance near previous support levels, with possible pullback targets identified.</li>
</ul>
<p style="text-align: justify">Both Cardano and Shiba Inu are currently in a state of flux, with market conditions suggesting a cautious approach for investors. Key support and resistance levels will likely influence future price actions, with investor sentiment poised to play a critical role in the cryptocurrencies’ trajectories.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/cardano-and-shiba-inu-navigate-price-pressure-and-sell-off-risks" rel="noopener noreferrer nofollow">Cardano and Shiba Inu Navigate Price Pressure and Sell-Off Risks</a></h5>

Cardano and Shiba Inu Navigate Price Pressure and Sell-Off Risks

Table of Contents

BH NEWS

Další články publikované 12. 4. 2024

As Bitcoin Breaks Records, This Altcoin Gets Attention: Bullish Outlook for SKID’s Future

Don’t Miss The VeChain Train — Analyst Projects 400% Price Increase

World’s Pension Funds Can’t Ignore the Powerful Returns of Bitcoin

Robert Kiyosaki Praises Cathie Wood's Prediction That Bitcoin Will Hit $2.3 Million And Suggests ...

Serenity Shield Price Prediction: SERSH Soars 20% As This Green AI Presale Soars To Within A Whis...

Ethereum (ETH) Might Wrestle Meme Coin Hype From Solana, Signs Visible

Join our free newsletter for daily crypto updates!