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Shiba Inu Analysis – Price respects the point of control and creates maximum

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Shiba Inu, like the rest of the cryptocurrencies, stopped at resistance in the short term and it is possible that we are witnesses local maximum. However, this maximum is the first in the current growing trend, with each correction leg in the growth being a healthy indicator.

Resistance represents the level point of control $ 0.00003400 where the price probably created a maximum. In the short term, therefore, it is realistic that in the coming days the price will fall until another minimum is set. The next minimum must be set higher than the previous value $ 0.00002000.

Shiba Inu at the checkpointSource: TradingView

Shiba Inu on the point of control

We do not yet know whether the price will continue in the long run sideway, or will immediately go into a growing trend. It needs to cool down in the short term, and in the long term we have clearly ended correction structure. Last but not least, it will also depend on BTC where the market as a whole moves.

In terms of the number of transactions, the strongest reverse value is the point of control at $ 0.00003400. As expected, the price did not exceed this level on the first and so far on the second attempt. In the future, however, it will be about bull signal in the event that the price eventually exceeds this point of

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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