Key control
Shiba Inu has been quoting inside a range since February, and during the past month he has formed another short -term range below $ 0.000014. The technical indicators showed a bearish bias for the meme coin.
One of the most popular memecoras, Shiba Inu [SHIB]He has not had an upward trend in recent weeks.
This was in line with other leaders and most of the other alternatives while the market fought for earnings in August.
Recently, Ambcrypto observed that Shib whales accumulated in silence.
According to Santimimenta data, a billion tokens Shiba Inu to the largest whale cohort holdings were added. However, its market structure leaned bassist.
Source: Shib/USDT in TrainingView
Since February, the 12 -hour table has constantly highlighted a range of purple shadows in which Shiba Inu has been operating. This range covers from $ 0.00001 to $ 0.000016, with a midpoint at $ 0.000013.
In particular, in May, the price tried a break above this range; However, the movement was shortly and quickly invested, reinforcing the structure attached to the range.
The RSI in the 12 -hour table was below the 50 neutral, at the time of the publication, showing that the bulls did not have much strength.
This was evident by the price action. During the past week, Shib saw a rejection in the average rank resistance and fell to the support zone of $ 0.000012.
The possibilities of a recovery of Shiba Inu seem good, here is why
Source: Shib/USDT in TrainingView
The 4 -hour table showed two key support/resistance areas, highlighted in cyan. They were at $ 0.000012 and $ 0.000014, respectively, at the time of writing, forming the ends of a smaller range.
H4 technical indicators were also neutral. The RSI was 48.9, and the A/D indicator lacked a decisive trend, showing that buyers and vendors were matched.
The price table suggests a probable movement to the range of $ 0.000011– $ 0.0000115, which could trigger an upward reversal.
Source: Canderlasss
Ambcrypto examined the liquidation heat map to confirm the idea. Liquidity promotes price movements, and the magnetic zone at $ 0.0000118 was prepared for a break.
This reinforced the idea that a sweeping of the liquidity of $ 0.000011 would offer a good purchase opportunity.
Discharge of responsibility: the information presented does not constitute financial, investment, trade or other types of advice and is only the writer’s opinion
