Shiba

Bitcoin

Resistance

Shiba Inu

Coin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shiba-inu-shib-breaks-key-resistance-level/" data-wpel-link="internal">Shiba Inu (SHIB) Breaks Key Resistance Level</a><br></p>
<p style="text-align: justify">The past 24 hours have been quite eventful for <a href="https://en.coin-turk.com/shiba-inus-price-movement-amid-market-speculations-and-ai-predictions/" data-wpel-link="internal">Shiba</a> Inu (<strong><a href="https://en.coin-turk.com/the-future-of-shiba-coin-and-the-current-situation-of-shiba-inu-and-litecoin/" data-wpel-link="internal">SHIB</a></strong>). The overall revival in the cryptocurrency market enabled SHIB to surpass the psychological threshold of $0.00001, bringing some relief to investors. The upward movement of <a href="https://coin-turk.com/uzman-isim-bitcoin-madencilerinin-satacak-cok-az-btcsi-kaldi" data-wpel-link="internal">Bitcoin</a> helped <a href="https://coin-turk.com/yuzde-1000-artabilir-bu-metriklere-gore-dogecoin-buyuk-bir-ralliye-hazirlaniyor" data-wpel-link="internal">altcoins</a> gain similar momentum. During <a href="https://coin-turk.com/bitfinex-borsasindan-calinan-bitcoinler-btc-yeniden-harekete-gecti" data-wpel-link="internal">BTC</a>‘s efforts to surpass the $57,000 threshold, SHIB and similar altcoins also overcame their resistance points, achieving positive momentum.</p> 
<h2 style="text-align: justify" id="meme-coin-shiba-inu-shib-breaks-significant-resistance">Meme Coin Shiba Inu (SHIB) Breaks Significant Resistance</h2> 
<p style="text-align: justify">The cryptocurrency Shiba Inu had been trading below the $0.00001 threshold since February 16. During this period, it was observed that large whales accumulated tokens at this level. However, the recent uptrend has helped <strong>SHIB</strong> overcome the $0.000009 resistance.</p> 
<p style="text-align: justify">Particularly, on February 15 and 16, attempts to recover the price of the cryptocurrency met with the $0.00001005 resistance. Yet, the meme coin SHIB managed to surpass this resistance on February 16, holding above $0.000009 and preparing for a new rise.</p> 
<p style="text-align: justify">Bears tried to push SHIB below the $0.000009 level, but the slight uptrend over the weekend thwarted these attempts. Currently, the <strong>cryptocurrency</strong> SHIB is above $0.00001 due to the recent uptrend. However, even though the meme coin’s price rose to $0.00001024, it encountered some resistance at this level and experienced a pullback.</p> 
<h2 style="text-align: justify" id="what-do-technical-indicators-say-about-shib">What Do Technical Indicators Say About SHIB?</h2> 
<p style="text-align: justify">Looking at technical indicators, the cryptocurrency <strong>SHIB</strong> appears to have gained momentum in its short-term uptrend. Trading volume has significantly increased in the last 24 hours, and Open Interest (OI) has risen. This suggests that long positions are increasing and the rise in short liquidations is triggering an uptrend.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-320073 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/Shiba-Inu-coin-turk-com-1-1.webp" alt="" width="1920" height="835"></p> 
<p style="text-align: justify">However, there is currently a decline in SHIB’s momentum, and the price needs to stay above the $0.00001006 level to prevent falling below $0.00001. Looking at the Fibonacci support levels, the next solid support is seen at $0.000009668. These levels are emerging as points that investors should closely monitor. Lastly, it’s worth noting that the cryptocurrency Shiba Inu is still 88% away from its peak levels.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/shiba-inu-shib-breaks-key-resistance-level/" data-wpel-link="internal">Shiba Inu (SHIB) Breaks Key Resistance Level</a></h5>

Shiba Inu (SHIB) Breaks Key Resistance Level

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