Shiba

Resistance

Shiba Inu

Daily

Technical analysis is an important indicator that investors in the cryptocurrency <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">market</a>, especially those trading in the futures market, need to constantly follow. So, what does technical analysis tell us about <a href="https://en.coin-turk.com/shiba-inu-leader-kusama-responds-to-coinbases-campaign/" data-wpel-link="internal">Shiba</a> Inu, which is currently trading at $0.00000794? Let’s take a detailed look at the charts, important support and resistance levels. 
<h2 class="p1" style="text-align: justify" id="shiba-inu-daily-chart-analysis">Shiba Inu Daily Chart Analysis</h2> 
The first notable structure on the daily chart for <a href="https://en.coin-turk.com/shibarium-network-achieves-significant-milestone-with-over-2-million-transactions/" data-wpel-link="internal">SHIB</a> is the resistance line. This resistance line, which has been a major obstacle since February 2023, will be crucial for SHIB investors to overcome with a breakout. Short-term breakouts during the rallies in August and November resulted in losses for futures traders. 
The most important support levels to watch on the daily chart for SHIB are $0.00000761, $0.00000710, and $0.00000665, respectively. A daily close below the $0.00000761 level, which played a significant role in the drop on November 21, will lead to a significant loss of momentum in SHIB’s price. 
The key resistance levels to watch for SHIB on the daily chart are $0.00000807, $0.00000850, and $0.00000917, respectively. A daily close above the $0.00000807 level, intersecting with the EMA 200 (red line), will help SHIB gain momentum in the short term. 
<img decoding="async" class="aligncenter wp-image-279864 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/shib-gunluk-grafik.png" alt="" width="2481" height="1140"> 
<h2 class="p1" style="text-align: justify" id="shiba-inu-four-hour-chart-analysis">Shiba Inu Four-Hour Chart Analysis</h2> 
The first notable formation in the four-hour chart analysis of SHIB is the ascending channel pattern. However, with the recent declines, SHIB broke below the support line, resulting in a significant loss of momentum. The resistance of the EMA 200 level (red line) in recent attempts to rise is not a positive scenario for SHIB. 
The most important support levels to pay attention to on the four-hour chart for SHIB are $0.00000788, $0.00000762, and $0.00000741, respectively. A bar close below the crucial support level of $0.00000762, which played an important role in the recent drop, will lead to a significant loss of momentum in SHIB’s price. 
The key resistance levels to watch for SHIB on the four-hour chart are $0.00000810, $0.00000827, and $0.00000843, respectively. A bar close above the $0.00000810 level, intersecting with the EMA 200 level, will help SHIB gain momentum in the short term. 
<img decoding="async" class="aligncenter wp-image-279865 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/shib-4s-grafik.png" alt="" width="2437" height="1158"> Continue Reading: <a href="https://en.coin-turk.com/shiba-inu-technical-analysis-key-support-and-resistance-levels/" data-wpel-link="internal">https://en.coin-turk.com/shiba-inu-technical-analysis-key-support-and-resistance-levels/</a>

Shiba Inu Technical Analysis: Key Support and Resistance Levels

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