Shiba Inu is now balancing at a crucial level, which is around the 100-day Exponential Moving Average (EMA). Should this level be broken, the token would be subject to intense selling pressure. At this critical juncture, SHIB has been trapped in a consolidation pattern for the past few days, if not weeks. Investor behaviour at this time is critical.
Lately, SHIB has adopted the 100 EMA as a sort of home base. A collapse from this point on, a decline below this threshold, may result in significant losses.
It’s evident from the chart that SHIB is stepping on thin ice. The next obvious line of support, the 200 EMA, is significantly lower and indicates that a possible price collapse may be imminent if the currency falls below the 100 EMA. Luckily, Shiba Inu will be back in an advancing market if it bounces off the 100 EMA.
In order for growth to happen, SHIB must overcome the group of resistance above, keeping an eye on the price level around $0.000022, which may serve as the first obstacle on a potential upward trajectory. But the situation is still difficult, and in the coming days, SHIB holders’ willingness to take risks may be put to the test.
Will Shiba Inu withstand the flood or will it give way beneath its weight? Every action matters in this troubled market, and SHIB’s next move might determine the course of the company in the next weeks and months.
