Shiba Inu （SHIB） is approaching significant resistance levels, with potential for a massive breakthrough. On-chain data and market sentiment suggest strong selling pressure.
Points
- Key resistance levels for SHIB
- On-chain data indicating selling pressure
- Impact of large holders on SHIB’s volatility
Shiba Inu （SHIB） is on the verge of a massive breakthrough as it approaches key resistance levels. The 200 EMA and the 100 EMA represent significant barriers that must be overcome for sustained upward movement. Monitoring these levels is crucial for predicting SHIB’s price trajectory.
On-chain data indicates that the majority of market sentiment towards SHIB is currently negative, with strong selling pressure observed on exchanges. This selling pressure may result from investors attempting to offset their losses, leading to increased volatility.
Additionally, the high percentage of large holders, accounting for 73% of SHIB’s supply, could cause a volatility surge if these holders decide to sell. The correlation between SHIB and Bitcoin is moderate to low （0.59）, suggesting that Bitcoin’s performance has a limited impact on SHIB’s price movements.
SHIB/USDT Chart by TradingView
解説
- Key resistance levels: The 200 EMA and 100 EMA are crucial barriers for SHIB, and breaking through them could signal a significant price increase.
- On-chain data: Strong selling pressure and negative market sentiment indicate potential challenges for SHIB, but also opportunities for strategic investors.
- Large holders: The high percentage of SHIB held by large investors contributes to potential volatility, requiring close monitoring for price prediction.