SHIB Remains Below Ichimoku Cloud Following High-Volume Selling
Shiba Inu (SHIB), the second-largest meme token, is trading below the Ichimoku cloud due to high-volume selling. The token faced resistance at 0.00001307 and fell to 0.00001274.
Geopolitical tensions and trade policies are affecting cryptocurrency markets, impacting SHIB’s resilience.
Key technical insights
- Resistance at 0.00001307 noted with significant selling pressure from 16:00 to 22:00 UTC.
- Support at 0.00001275 observed during a reversal at 03:00 UTC.
- Price volatility included a surge from 0.00001289 to 0.00001293, followed by a 1.2% drop to 0.00001283 at 07:27.
- Final consolidation between 0.00001283 and 0.00001285 indicated exhaustion after volatility.