Shiba

bullish

Shiba Inu

Trillion

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Shiba Inu is getting closer to the 26-day Exponential Moving Average (EMA), which presents a serious obstacle. At this critical technical level, <a href="https://u.today/shibarium-celebrates-first-anniversary-former-binance-ceo-cz-facing-new-lawsuit-58-million-xrp" rel="noopener noreferrer nofollow">SHIB</a> is going to face a massive 500 trillion SHIB battle, according to data from <a href="https://app.intotheblock.com/coin/SHIB" rel="noopener noreferrer nofollow">IntoTheBlock</a>.
This might be a pivotal time for the cryptocurrency since a break through this resistance could open the door to a bullish reversal, but a failure to do so could result in a significant price decline.&nbsp; <img alt="SHIBUSDT" data-entity-type="file" data-entity-uuid="76f9a5ea-876a-4a5a-a2cf-26084d11256a" src="https://u.today/sites/default/files/inline-images/image_1124.png"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">SHIB/USDT Chart by TradingView</a>
After a protracted downtrend, SHIB is currently trading at $0.00001439, indicating some signs of recovery. But the 26 EMA, which represents a crucial resistance level, might be a strong obstacle.&nbsp;
Five hundred trillion tokens, a sizable portion of <a href="https://u.today/shiba-inu-executive-makes-stunning-bitcoin-market-prediction" rel="noopener noreferrer nofollow">SHIB</a>, appear to be tied to this price point according to the data, suggesting that many investors may be considering selling if the price approaches or marginally surpasses this barrier. The $0.00001556 mark is the next notable resistance above the 26 EMA, according to the support and resistance levels.
This level will be critical if <a href="https://u.today/620-billion-shiba-inu-mystery-stuns-shib-community" rel="noopener noreferrer nofollow">SHIB</a> is able to overcome the 26 EMA and maintain its upward trajectory. The levels at $0.000013 and $0.000012 provide quick support in the event of a decline. These levels could face pressure if SHIB is unable to break above the 26 EMA and the price retraces.
According to IntoTheBlock's In/Out of the Money Around Price indicator, right now, about 60,000 addresses are Out of the Money at the price, indicating a significant amount of selling pressure over current levels. This strengthens the possibility that SHIB will find it difficult to overcome the 26 EMA and may experience a reversal if buying power does not rise.

Shiba Inu (SHIB) to Face 500 Trillion Battle: Details

U_Today

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