Shiba

2024

Resistance

Shiba Inu

<p>Volatility strikes once more for SHIB crypto, but this time, green emerges. After a series of bloody drops, Shiba Inu timidly rises with a 6.5% increase, offering a brief respite to investors. However, this ascent remains fragile. The real challenge for SHIB lies in its ability to break through a key resistance level that could be a game-changer.</p> 
<h2 id="h-shiba-inu-a-rebound-under-high-pressure">Shiba Inu: a rebound under high pressure</h2> 
<p>In recent days, Shiba Inu has attempted to catch its breath, finding <strong>temporary support at the 0.00001602 level</strong>. <a href="https://www.cointribune.com/en/shiba-inu-bonds-at-42-should-we-invest-in-this-crypto-before-its-too-late/" target="_blank" rel="noreferrer noopener">It even jumped by 42%</a> at the end of September. However, the <strong>resistance at 0.00001740</strong> continues to pose a problem, hindering any hope of a real recovery.</p>
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<p>This well-known level of resistance acts as <strong>a psychological barrier for crypto traders</strong>, prompting them to sell as soon as they approach it. If this resistance zone breaks, SHIB could target more ambitious targets at 0.00002169, or even 0.00002945.</p> 
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  SHIB-USDT Chart as of October 6, 2024 – Source: TradingView
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<ul> 
 <li>Current resistance: 0.00001740;</li> 
 <li>Support: 0.00001602;</li> 
 <li>Short-term target: 0.00002169.</li> 
</ul> 
<p>However, not everyone is convinced. Market whales, once optimistic, are now showing more caution. <strong>The volume of large transactions has dropped by 62.57%</strong>, falling to 27.99 million dollars, indicating a lack of confidence among large investors.</p> 
<p>If sellers persist, the <a href="https://www.cointribune.com/tag/shiba-inu-shib/" target="_blank" rel="noreferrer noopener">Shiba Inu price</a> could well fall back into the abyss.</p> 
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<h2 id="h-crypto-shib-a-persistent-bear-market">Crypto SHIB: a persistent bear market</h2> 
<p>The overall crypto market remains <strong>mostly bearish for SHIB</strong>. Open interest indicators show that sellers far outnumber buyers. <strong>The liquidation of long positions, exceeding 432,970 dollars</strong>, has seriously dented the confidence of traders hoping for a quick rebound.</p> 
<p>Short positions, on the other hand, continue to grow, increasing the pressure on the price of SHIB.</p>  
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  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SHIBEUR","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script> 
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  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SHIBEUR","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script> 
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  <a href="https://fr.tradingview.com/symbols/SHIBEUR/?exchange=BINANCE" rel="noopener" target="_blank"><span class="text-primary-color">SHIBEUR chart</span></a> by TradingView
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<p>According to <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=financials&amp;chart=largeTransactions" target="_blank" rel="noreferrer noopener">IntoTheBlock</a>, <strong>large investors seem to be abandoning ship</strong>. The volume of large transactions has fallen, foreshadowing an uncertain future for this altcoin. The crucial question remains: <strong>can the crypto Shiba Inu overcome these challenges and reverse the bearish trend?</strong> The coming days will be decisive.</p> 
<p>Nonetheless, Shiba Inu remains a symbol of hope for meme crypto fans, despite the current challenges. It is no coincidence that some investors are still betting on <a href="https://www.cointribune.com/en/crypto-shiba-inu-whales-announce-a-7000-explosion/" target="_blank" rel="noreferrer noopener">a 7,000% explosion</a>.</p>

Crypto: A Fatal Resistance Jeopardizes The Hopes Of Shiba Inu Traders

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