Shiba

Cardano

Shiba Inu

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cardano-and-shiba-inu-face-tough-market-conditions/" data-wpel-link="internal">Cardano and Shiba Inu Face Tough Market Conditions</a><br></p>
<p style="text-align: justify"><strong>Cardano</strong> (<a href="https://coin-turk.com/yil-bitmeden-bu-3-altcoin-patlayabilir-hepsi-binance-borsasinda" data-wpel-link="internal">ADA</a>) and <strong><a href="https://en.coin-turk.com/whale-activity-in-shiba-inu-cryptocurrency-surges-by-over-450/" data-wpel-link="internal">Shiba</a> Inu</strong> (<a href="https://en.coin-turk.com/shiba-inu-shibarium-launch-and-how-shib-token-withdrawals-affect-the-price/" data-wpel-link="internal">SHIB</a>) have seen quiet price movements and short-term downward pressure in recent weeks. <a href="https://en.coin-turk.com/cardanos-price-surge-and-potential-reversal-indicators/" data-wpel-link="internal">ADA</a> was trying to hold onto the support at $0.568 but its position looked precarious. Shiba Inu also appeared to be on a trajectory towards a demand zone focused on a decline, with a 13% drop. A crypto analyst’s post on platform X mentioned that Cardano and Shiba Inu, along with other <a href="https://coin-turk.com/shiba-inu-tum-dunyayi-kasip-kavuruyor-iste-yeni-basari-yeni-umut" data-wpel-link="internal">altcoins</a>, have a significant percentage of ownership out of the money. So, what could be the consequences of this development?</p> 
<h2 style="text-align: justify" id="cardano-and-shiba-inu-bulls-face-a-challenging-battle">Cardano and Shiba Inu Bulls Face a Challenging Battle</h2> 
<p style="text-align: justify">Being out of the money has a different meaning in the options market. When referring to crypto holders, it simply means they are at a loss. According to IntoTheBlock data, at current market prices, 50% of ADA holders are at a loss, and 28% of Shiba Inu holders are in the red.</p> 
<p style="text-align: justify">To put it simply, if an investor’s average cost for assets is higher than the current market price, the investor is at a loss. This situation represents a large portion of the total ownership. It also means that a price increase is likely to see significant selling pressure as many will seek to realize profits.</p> 
<p style="text-align: justify">Therefore, ADA will face greater selling pressure between the two coins because a larger portion of its holders will encounter a loss if they sell now. A technical analysis of the two tokens can give a better idea of where this selling pressure could be high.</p> 
<h2 style="text-align: justify" id="cardano-and-shiba-inu-in-a-pullback-phase">Cardano and Shiba Inu in a Pullback Phase</h2> 
<p style="text-align: justify">ADA’s price movement in March saw the asset record a new high of $0.81 before retreating to the $0.568 support level. Trading volume also decreased over the past week. This was a strong sign of consolidation. At the time of writing, a rally had not yet been discussed. Instead, considering the repeated tests of the support level, a decline towards $0.525 could be possible.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-339698 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ada-usdt-coin-turk-com-.png" alt="" width="1818" height="791"></p> 
<p style="text-align: justify">Above the $0.8 level, selling pressure could begin to increase tremendously once again. Higher timeframe charts showed that the $0.8-$0.84 and $1-$1.05 regions are two strong resistances that could halt the uptrend.</p> 
<h2 style="text-align: justify" id="shiba-inu-exhibits-similar-consolidation-signs">Shiba Inu Exhibits Similar Consolidation Signs</h2> 
<p style="text-align: justify"><strong>Shiba Inu</strong> also showed similar signs of consolidation as Cardano. Trading volume significantly decreased, and bulls were unable to push above the $0.000032 level, which served as support in the first half of March.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-339699 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/shib-usdt-coin-turk-com-1-1.png" alt="" width="1832" height="797"></p> 
<p style="text-align: justify">The 1-week timeframe chart indicated that the $0.000031-$0.000032 and $0.000039-$0.00004 regions are two decline areas to watch.</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/cardano-and-shiba-inu-face-tough-market-conditions/" data-wpel-link="internal">Cardano and Shiba Inu Face Tough Market Conditions</a></h5>

Cardano and Shiba Inu Face Tough Market Conditions

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