_Shiba Inu (SHIB) Faces Critical Resistance at 26-Day EMA_
Shiba Inu is approaching a crucial technical level, the 26-day Exponential Moving Average (EMA), which poses a significant obstacle. According to IntoTheBlock data, a massive 500 trillion SHIB battle is looming at this level.
_Key Points:_
- SHIB is currently trading at $0.00001439, showing signs of recovery after a prolonged downtrend.
- The 26 EMA represents a strong resistance level, with 500 trillion tokens tied to this price point.
- Failure to break through this level could result in a significant price decline.
- The next notable resistance level is at $0.00001556.
- Support levels are at $0.000013 and $0.000012.
_Analysis:_
- IntoTheBlock's In/Out of the Money Around Price indicator shows 60,000 addresses are Out of the Money at current levels, indicating significant selling pressure.
- This strengthens the possibility of SHIB struggling to overcome the 26 EMA and potentially experiencing a reversal without increased buying power.
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