- Higher timeframe bullish structure came hand in hand with a consolidation phase for Shiba Inu
- Futures market showed bearish sentiment in the short-term
Shiba Inu [SHIB] has been in a retracement and consolidation phase over the past six weeks. The price action chart did not show any reason for holders to panic. On the contrary, a good buying opportunity would arise if SHIB prices drop another 15%.
A recent AMBCrypto report on Shibarium revealed that transaction fees on the network have been dropping. This is worrying because it is a sign of reduced user activity and a potential drop in demand.
Short-term support level was flipped to resistance once again
Source: SHIB/USDT on TradingView
The 12-hour price chart revealed that since 15 March, the $0.00003-level has been important. The bulls briefly flipped it to support in the final week of March, but were unable to hold on.
The recent bounce also halted at $0.00000295, just below this level. The RSI highlighted that the momentum was indecisive with a reading of 47. The Chaikin Money Flow was also similarly indefinite. It has not moved significantly beyond +0.05 or -0.05 since mid-March.
The price action and the indicators showed that SHIB is in a consolidation phase. A CMF move beyond dotted white lines could be an early signal of rising buying (or selling) pressure and an impending SHIB move in that direction.
Dormant circulation gave investors confidence
Source: Santiment
The 30-day MVRV ratio dropped into negative territory earlier this month, signaling an undervalued asset. The mean coin age, on the other hand, has strongly trended upwards since early March. It is a strong buy signal, especially since the token is consolidating under resistance.
The Open Interest has also dropped substantially over the past ten days. It showed that speculators preferred to remain sidelined and have not been willing to bet on SHIB’s price movement on the charts.
Read Shiba Inu’s [SHIB] Price Prediction 2024-25
Dormant circulation had sizeably spiked in early March, when the mean coin age nosedived. Since then, the dormant circulation has been quiet. This is another sign that significant selling pressure and token movement has been absent in recent weeks.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
- Higher timeframe bullish structure came hand in hand with a consolidation phase for Shiba Inu
- Futures market showed bearish sentiment in the short-term
Shiba Inu [SHIB] has been in a retracement and consolidation phase over the past six weeks. The price action chart did not show any reason for holders to panic. On the contrary, a good buying opportunity would arise if SHIB prices drop another 15%.
A recent AMBCrypto report on Shibarium revealed that transaction fees on the network have been dropping. This is worrying because it is a sign of reduced user activity and a potential drop in demand.
Short-term support level was flipped to resistance once again
Source: SHIB/USDT on TradingView
The 12-hour price chart revealed that since 15 March, the $0.00003-level has been important. The bulls briefly flipped it to support in the final week of March, but were unable to hold on.
The recent bounce also halted at $0.00000295, just below this level. The RSI highlighted that the momentum was indecisive with a reading of 47. The Chaikin Money Flow was also similarly indefinite. It has not moved significantly beyond +0.05 or -0.05 since mid-March.
The price action and the indicators showed that SHIB is in a consolidation phase. A CMF move beyond dotted white lines could be an early signal of rising buying (or selling) pressure and an impending SHIB move in that direction.
Dormant circulation gave investors confidence
Source: Santiment
The 30-day MVRV ratio dropped into negative territory earlier this month, signaling an undervalued asset. The mean coin age, on the other hand, has strongly trended upwards since early March. It is a strong buy signal, especially since the token is consolidating under resistance.
The Open Interest has also dropped substantially over the past ten days. It showed that speculators preferred to remain sidelined and have not been willing to bet on SHIB’s price movement on the charts.
Read Shiba Inu’s [SHIB] Price Prediction 2024-25
Dormant circulation had sizeably spiked in early March, when the mean coin age nosedived. Since then, the dormant circulation has been quiet. This is another sign that significant selling pressure and token movement has been absent in recent weeks.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
cost generic clomiphene without a prescription how can i get cheap clomiphene get clomiphene prices clomid price walmart buy clomid pill where to buy clomid can i get clomid without a prescription
More articles like this would remedy the blogosphere richer.
This website absolutely has all of the bumf and facts I needed adjacent to this case and didn’t comprehend who to ask.
azithromycin 500mg without prescription – flagyl 200mg ca metronidazole pills
order generic rybelsus – cyproheptadine drug buy cyproheptadine 4 mg
motilium order online – brand domperidone flexeril 15mg brand
inderal 20mg us – order inderal 20mg buy methotrexate 2.5mg for sale
purchase amoxicillin generic – buy amoxil without a prescription buy combivent generic
zithromax 250mg for sale – order zithromax sale purchase nebivolol
augmentin pill – https://atbioinfo.com/ acillin us
buy generic nexium 20mg – anexamate brand esomeprazole 20mg
buy warfarin 5mg without prescription – anticoagulant buy losartan without prescription
meloxicam without prescription – https://moboxsin.com/ mobic order
oral deltasone 40mg – https://apreplson.com/ deltasone 5mg without prescription
buy ed pills fda – where can i buy ed pills cheap ed drugs
buy amoxil generic – comba moxi buy amoxil generic
order diflucan generic – buy diflucan 100mg sale purchase forcan online cheap
cenforce 50mg over the counter – cenforce 50mg generic order cenforce 100mg online cheap
dapoxetine and tadalafil – how much does cialis cost with insurance non prescription cialis
sanofi cialis otc – cialis package insert do you need a prescription for cialis
order ranitidine 300mg online cheap – https://aranitidine.com/ order generic zantac 150mg