Shiba Inu now has a new level of major support to defend after the drop in prices of 11.75% yesterday on the back of the wider market accident.
The cryptography market continued to cope with the lower pressure, while Bitcoin (BTC) is consolidated Below $ 100,000. In particular, this downward trend intensified yesterday, triggering a massive market crisis which pushed Shiba Inu (Shib) below the main levels of support.
The downside of yesterday was due to the increase in risk aversion led by labor market concerns in the middle of the potential federal dismissals Directed by the Elon Musk government ministry and the climbing of trade tensions while President Donald Trump insists on the prices for Mexico and Canada.
New Shiba Inu support area
In the middle of the market accident, Shib fell by a discouraging 11.75% yesterday on February 24, marking its highest intra -day decline in more than 20 days. This pushed the assets below the psychological level of 0.000015 which has acted as a large support region since February 16, when Shiba Inu lost $ 0,0000,16.
With this last crash, Shib has abandoned $ 0,000015 and 0.00000014 Psychological support levels in a single scan, triggering concerns around a more substantial decline in the absence of A high level of support. Intotheblock data have now confirmed the next major support region to monitor.
In particular, this support is between the fork of $ 0.000013 and $ 0.000014. According to the dataAbout 35,900 addresses bought 14.9 billions of shib tokens in this range at an average price of $ 0.000014. This provided a demand wall for the meme piece, able to defend against the current pressure.
Shib in a delicate position
However, with only 14.9 billions of sombing at this level, it is important to note that this wall of demand is not as reliable as the previous one, which included a huge shib of 547 Billions. This last support, which has now overturned the resistance, defended SHIB against a drop of less than $ 0.000014 until the last market accident.
If the 14.9 Billion shib support gives in, the meme piece could find strength in a more reliable demand wall between $ 0.00,0008 and $ 0.000013, where 296,800 addresses contain 77 Billions of Shib. Despite this region with more volume, its position is delicate, representing the last defense above the pivot of $ 0,00001.
Interestingly, the data from the daily graph of Shiba Inu confirm the current support region of 14.9 Billions Between $ 0.000013 and $ 0.000014. In particular, daily pivot points reveal a main level of support (S1) at 0.000013415 $. Below, the following support (S2) is at a price of 0.00001291, mainly under the psychological level of $ 0.000013.
Shiba Inu is now changing hands at 0.00001366, down 7% in the last 24 hours. Other data indicate that for Shiba Inu returning the downgrade of Haussier, it should decompose above the pivot level at 0.000014217 $. Above this brand, the first resistance is at $ 0.0000,1501, residing in the supply wall of 547 Billions.
Difles: This content is informative and should not be considered financial advice. The opinions expressed in this article may include the author’s personal opinions and do not reflect the basic opinion of cryptography. Readers are encouraged to do in -depth research before making investment decisions. The Crypto Basic is not responsible for financial losses.