Shiba

Flow

Bitcoin

Shiba Inu

MN Coin

<ul>
 <li><em>Shiba Inu maintained its bullish bias on the price charts despite volatility.</em></li>
 <li><em>Key support levels were highlighted for SHIB buyers to defend this week.</em></li>
</ul>
<p><a href="https://ambcrypto.com/search/shib" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Shiba Inu [SHIB]</a> saw heightened volatility over the weekend. The meme coin shot up by 23% on the 16th of December but fell 14.39% from the highs of the 17th of December. At press time, SHIB bears seemed determined to continue the fall.</p>
<p>Yet, it is expected that the bulls can fight off these setbacks soon. The bias remained bullish, but this depended heavily on <a href="https://ambcrypto.com/search/bitcoin" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bitcoin [BTC]</a> staying above the $40k mark.</p>
<h4>The swift rejection from the overhead resistance was discouraging</h4>
<div id="attachment_359283" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-price.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359283" decoding="async" class="size-full wp-image-359283" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-price.png" alt="Shiba Inu reached April highs but bears take over almost immediately thereafter" width="1940" height="1099" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-price.png 1940w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-price-300x170.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-price-1024x580.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-price-768x435.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-price-1536x870.png 1536w" sizes="(max-width: 1940px) 100vw, 1940px"></a>
 <p id="caption-attachment-359283" class="wp-caption-text">Source: SHIB/USDT on TradingView</p>
</div>
<p>On the 16th of December, Shiba Inu rallied from $0.00000946 to $0.00001195 in 24 hours. This continued the bullish market structure of SHIB by setting a new higher high.</p>
<p>The RSI also remained above the neutral 50 mark to highlight buyers were in control. En route, the $0.0000105 resistance zone from mid-August was breached.</p>
<p>This rally was followed by a plunge lower that commenced over the past 24 hours. The bulls could not defend the $0.0000105 area as support, which suggested that the bulls were weak.</p>
<p>Yet, the Chaikin Money Flow indicator was at +0.08 on the one-day chart, showing significant capital flow into the market.</p>
<p>Therefore, a move to the $0.0000095 or the $0.0000091 levels could provide a buying opportunity. A drop below the latter would shift the market structure bearishly.</p>
<h4>The liquidation heatmap also pointed to an impending drop</h4>
<div id="attachment_359282" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-hyblock.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-359282" decoding="async" class="size-full wp-image-359282" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-hyblock.png" alt="Shiba Inu reached April highs but bears take over almost immediately thereafter" width="1866" height="1014" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-hyblock.png 1866w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-hyblock-300x163.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-hyblock-1024x556.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-hyblock-768x417.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/PP-1-SHIB-hyblock-1536x835.png 1536w" sizes="(max-width: 1866px) 100vw, 1866px"></a>
 <p id="caption-attachment-359282" class="wp-caption-text">Source: <a href="https://hyblockcapital.com/liquidationlevel-heatmap" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Hyblock</a></p>
</div>
<p>AMBCrypto analyzed the liquidation heatmap from Hyblock with a lookback period of one month. It showed that the next region of interest was at $0.000009, where a huge amount of estimated liquidation levels lay.</p>
<p style="text-align: center;">Realistic or not, here’s <a href="https://ambcrypto.com/calculator/marketcap" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">SHIB’s market cap in BTC’s terms</a></p>
<p>Since this pocket coincided with the findings of the AMBCrypto’s technical analysis, it reinforced the idea of a resurgence for the bulls from this area.</p>
<p>However, if Bitcoin falls below the $39.6k and $38k levels, a SHIB recovery would become much less likely.</p>
<p><i>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.</i></p>

Shiba Inu soars 23% before falling by 14%: Will the climb continue?

AMBCrypto

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