„Shiba Inu“ pasiekia 61.8 % „Fibonacci“ išplėtimo lygį – gali kilti pelno siekimo banga

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  • The market structure of Shiba Inu was firmly bullish and $0.0000118 can serve as support.
  • The Fibonacci extension levels further north were marked out and can be tested in the coming weeks. 

Shiba Inu [SHIB] performed remarkably well on the kainų lentelės in January 2023. SHIB flipped Staked ETH [stETH] for the biggest holding by dollars among the top 500 „Ethereum“ [ETH] whales. Some pardavimo spaudimas was noted in the past couple of days, which sparked debate on whether the asset has reached a local top.


Kiek yra Šiandien verta 100 SHIB?


On-chain metrics showed that Shiba Inu could face some selling pressure as holders race to book their profits. From a technical perspective, the higher timeframe bias remained bullish.

SHIB blasts past the $0.000011 level to reach significant resistance from November

Can large profit-taking on Shiba Inu cause a pullback, and should traders buy the dip?

Šaltinis: SHIB/USDT „TradingView“.

The price of Shiba rose close to 40% at the time of writing. From 11 January’s swing low to the swing high at press time, the memecoin appreciated by 49.6%. The RSI continued to show strong bullish momentum on the 12-hour chart, and a bearish divergence had not yet developed. If it did, it could be an early signal of a pullback.

The CMF was also above +0.05 mark, indicating significant capital flow into the market. The CMF rose throughout the past week and stood at +0.17.

Based on the move upward from $0.00000817 to $0.000011, a set of Fibonacci retracement levels was drawn. The price stalled near $0.000011 over the weekend but pumped as high as the 61.8% extension level a few hours before the time of writing.

The market structure remained strongly bullish. A move into the $0.00001 zone of support can offer a buying opportunity since the price consolidated there for a few days. On higher timeframes such as the daily, a session close below $0.00001 would flip the structure to bearish.

To the north, the 100% extension level can be taken as the next take-profit level.


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Mean coin age shows accumulation, but the spike in MVRV meant selling pressure can follow

Can large profit-taking on Shiba Inu cause a pullback, and should traders buy the dip?

šaltinis: Santimentas

The 30-day MVRV ratio spiked to 41% at press time, a value it has not seen in the past six months. This meant that holders were at a massive profit, and it was likely that they would sell to realize said profit. This wave of selling can see a pullback or even a trend reversal on Shiba Inu, based on the reaction at the $0.00001 level.

The 90-day mean coin age metric has been rising over the past week to highlight a network-wide accumulation trend. However, the large spike in dormant circulation a few days ago was a cause for concern. The weighted sentiment remained massively in favor of the buyers.

Source: https://ambcrypto.com/shiba-inu-reaches-the-61-8-fibonacci-extension-level-a-wave-of-profit-taking-could-ensue/