Shiba Inu (SHIB) is showing signs of activity in the market, but analytical data indicate significant obstacles ahead.
Current Market Conditions of Shiba Inu
SHIB managed to break above the 50 EMA level, which typically signals a potential change in market structure. However, the current price fluctuates between $0.000012 and $0.000013, creating uncertainty for future movement.
Resistance at $0.000013-0.000014
The cryptocurrency faces a new resistance level, as over 15 trillion SHIB tokens are concentrated between $0.000013 and $0.000014. These holders are likely to start selling as prices reach breakeven, which will create significant pressure on the market.
Outlook and Possible Scenarios
While Shiba Inu shows positive price movement, accumulation data indicates serious resistance. Without a notable increase in buying pressure, the cryptocurrency may find itself in a liquidity trap, leading to consolidation or a reversal.
In summary, despite SHIB's recent price strength, large accumulation zones indicate significant resistance, potentially leading to market instability.
