- ShibaInu struggles to break the 468 trillion SHIB resistance, leading to a stalled price movement.
- Shiba Inu’s failure to regain key support levels signals ongoing market hesitancy and downward pressure.
ShibaInu (SHIB) has hit a major roadblock, unable to break through a critical resistance level. This resistance is now holding strong, and the chances of a price surge seem slim.
468 Trillion SHIB: A Tough Wall
The 468 trillion SHIB mark was once a crucial profitability zone for many investors. But now, it’s become a barrier. SHIB attempted to push higher, but the 26 EMA (Exponential Moving Average) rejected it. This level has become the first and strongest resistance point in the market.
Market Sentiment Shows Weakness
On-chain data analysis reveals a concerning trend. A large portion of ShibaInu holders are now at a loss. The Global In/Out of the Money metric highlights this, suggesting that many traders are struggling. This shift indicates that bullish sentiment is fading fast. Without fresh buying pressure, SHIB’s chances of recovery look slim.
If market sentiment doesn’t improve soon, SHIB could face extended consolidation or further declines.
Downward Pressure Continues
Technical indicators show SHIB continuously being rejected below key moving averages. The 26 EMA stands as a major obstacle, reinforcing downward pressure. Until SHIB can recover and surpass this level, the bears remain in control.
ShibaInu Path Ahead
If SHIB fails to maintain above its recent support level at $0.000016, a decline toward $0.000015 is possible. While breaking through the 26 EMA might spark some optimism, the current market conditions make this scenario unlikely. SHIB needs to break resistance and solidify support to regain momentum.
Eyes on the Resistance Zone
Traders should watch the 468 trillion SHIB profitability level closely. If SHIB manages to break this level, it could signal a shift toward bullish movement. However, any further failure to overcome this resistance will likely lead to prolonged downward pressure.
In short, SHIB’s inability to break this resistance reinforces market hesitation. Investors remain cautious, and the road ahead for SHIB looks uncertain unless a significant market shift occurs.
