SHIB Price Rejected at Key Resistance

By Owen Patter Aug 21, 202367Views

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Rejection at Key Resistance

The price of SHIB bounced but failed to move above the key resistance level. Here are the main breakdowns of the content’s key points:

– Support levels: The cryptocurrency found support at $0.0000080.
– Resistance levels: It was quickly rejected at $0.0000085.
– Falling back: After being rejected, SHIB fell back on the key support level.
– Pressure on support: The key support level is now being put under pressure again.

Hot Take

It seems that SHIB is struggling to break through the key resistance level. The rejection at $0.0000085 indicates that there is significant selling pressure at that point. If the cryptocurrency fails to overcome this resistance, it may continue to face challenges in moving higher. Traders should closely monitor the price action and the behavior around the support and resistance levels to make informed decisions.

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Owen Patter

Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content. Owen's contributions serve as a valuable guide for both seasoned enthusiasts and newcomers, aiding them in navigating the dynamic world of cryptocurrencies with well-researched perspectives. With a meticulous commitment to precision, he empowers informed decision-making in the ever-evolving crypto domain.