Shiba InuThe last recovery attempt failed, and the price was unable to break above the crucial 100 EMA resistance level, resulting in a major setback. As a result of this significant decline in upward momentum, traders and investors began to doubt whether a long-term uptrend was possible. Gray It is currently trading at around $0.00002215, reflecting its recent upward attempt.

As strong resistance, the 100 EMA, which is located at approximately $0.00002255, rejected the price and indicated that the bearish sentiment will continue. The market lacked the conviction needed to push SHIB higher, so the recovery attempt was essentially terminated due to the inability to move beyond this level.

Another reason for concern is the apparent decline in trading volume, which indicates a decline in interest in the token. A lack of support from market participants is often indicated by low trading volume during a failed recovery period, making it difficult for the price to maintain any upward momentum. This means that there is less interest in speculation Gray – Especially since there were no noticeable catalysts in the market.

Going forward, the Shiba Inu will find immediate support near the 200 EMA, which is approximately $0.00002055. A break of this barrier may cause the price to fall further, perhaps reaching the psychological support area at $0.0001900. For SHIB to regain upward momentum and target the next resistance near $0.00002494, it must reclaim the 100 EMA at $0.00002255.

Despite the relative expansion of the overall market, the Shiba Inu's poor performance highlights the difficulties it faces in remaining relevant to investors. Gray It is still under pressure at the moment, and its future depends on finding new investors and maintaining important support levels. To determine if an asset is likely to bounce, monitor the volume and various momentum indicators that directly affect the strength of the SHIB trend.