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Shiba Inu (Shib), the meme coin based on Ethereum, has gained 23% in the last month, reflecting a broader interest in the Altcoins in the middle of a relatively stable cryptocurrency market.
However, recent metrics show that the action of the currency has entered a consolidation phase, with Shib trapped between the key levels of support and resistance.
Its relative force index (RSI) has recovered from overall conditions, but remains neutral, while whale activity continues to decrease.
These signals indicate that the market may be undecided over the next direction of Shib, waiting for a clearer catalyst for a break or break.
The RSI recovers but remains neutral below 50
The RSI of Shiba Inu, a widely observed impulse indicator, has recovered from a strong fall.
The metric rose to 47.1 after falling to a minimum of 31.7 only one day before.
This follows a recent fall from a maximum of 6 days of 68.4.
Despite the recovery, the Shib rsi It remains below the neutral brand of 50, which suggests that the Token is neither overwhelmed or oversized.
This stabilization reflects an undecided market.
Currently, traders are not buying or selling aggressively, but seem to be waiting for more address.
If the RSI continues to rise above 50, it could indicate an increasing bunder impulse.
Otherwise, the currency can face continuous trade within a range.
Counting whales for 27 headlines in nine days
Another significant trend involves the data of the Shiba Inu wallet wallet.
The number of wallets that have at least 1 billion Shib has fallen from 10,232 to 10,205 in the last nine days, a small but revealing sign of the reduction of interest among large holders.
Although the decrease may not seem dramatic, a broader pattern of fluctuation and gradual reduction in whale accumulation continues.
These addresses, which often have influence on market movements through high volume operations, seem to be backward.
This could reflect a lower long -term conviction, especially given the lack of strong bullish signs in the last sessions.
A resurgence of whales participation would probably be necessary to support a more sustained upward movement.
Meanwhile, the data point to a cautious positioning among high -risk investors.
The price is consolidated between $ 0.000014 and $ 0.0000152
Shib currently quotes in a narrow range, with support at 0.000014 dollars and resistance at 0.0000152 dollars.
The exponential mobile socks (EMA) of the Token, which previously showed a bullish alignment, are now flattening.
This even more indicates the recent pause in the directional movement.
If the price fails to maintain the level of 0.0000139 dollars, it can fall even more to 0.0000127 dollars or even at 0.0000123 dollars. On the other hand, a rupture above USD 0.0000152 could pave the road to the next resistance about USD 0.0000176.
This technical configuration shows a classic consolidation scenario, in which traders and investors look for signs of a renewed purchase pressure or a deeper setback.
Without an important catalyst or a change in the feeling of the market, lateral action can persist in the short term.
Mixed feeling in the short term in the midst of long -term uncertainty
In the last 24 hours, Shib has gained 3.4%, but continues to fall 8.5% in the last week. This divergence shows that, although some short -term purchases are returning, the broader price action still points to caution.
In general, the combination of neutral readings of the RSI, an increasingly narrow whale base and a flattening of the EMA suggests that the meme currency can continue to face the resistance unless it returns a broader enthusiasm of the market or that specific events trigger a break.
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