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Shiba Inus price was repeatedly rejected at significant resistance levels, causing it to experience upward momentum. The asset is stuck in a difficult range indicating continued negative market sentiment despite efforts to regain its bullish position. With the current price of $0.00002125, SHIB was unable to overcome important resistance levels, especially the 26 and 50 moving averages, which act as a strong ceiling for price growth.
Shiba InuThe bank's attempts to resist the recent downward trend have failed once again. A strong support area in the past, the asset is currently trading near the 200 EMA. A clear break below this level could signal the beginning of a steeper decline, which could push SHIB closer to the next important support level at $0.00001881.
On the other hand, reclaiming the 50 EMA may indicate new upward momentum, but the volume that has been absent from recent attempts suggests that traders remain cautious. The lack of significant buying pressure is indicated by the recent rejection at resistance levels.
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The Relative Strength Index (RSI) is currently in the neutral zone, which indicates that traders are unsure of what to do. Before a final decision is made, this situation may lead to further consolidation. Selling pressure may increase and push SHIB closer to the $0.00001881 support area if the 200 EMA falls.
More losses are likely if this level does not hold. Gray It needs to cross the $0.00002272 level with significant volume in order to resist the trend. This could result in a test of greater resistance at $0.00002489.
The Shiba Inu is still under pressure at the moment, and its future path depends largely on maintaining important support areas or breaking through important resistance levels. Traders are advised to be careful and patient while they wait for more distinct signals.
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