The post Shiba Inu Price Forecast: Facing High Leverage Liquidation Clusters Amid Low Trading Volume appeared on BitcoinEthereumNews.com.

Shiba Inu (SHIB) has recently exhibited mixed performance, with trading activity showing a cautious sentiment among investors amid fluctuating market conditions. The cryptocurrency is currently testing significant support levels, indicating that traders are closely monitoring price action for potential trading opportunities. “Market participants are hesitant, and the upcoming days could determine whether SHIB tests the higher resistance or drops below key levels,” stated a source from COINOTAG. Discover the latest trends in Shiba Inu (SHIB) as trading volumes dwindle, impacting its price trajectory and market sentiment. Market Sentiment Influences Shiba Inu’s Price Trajectory The current market environment reveals that Shiba Inu is mired in uncertainty as traders exhibit hesitance to commit amidst fluctuating market cues. Recent trading volumes have significantly decreased, suggesting indecisiveness that could lead to notable price movements in the near term. Analysts observe that a price pullback below $0.0000211 might signal a shift towards a bearish sentiment. Should Bitcoin’s price reaffirm strength, however, SHIB could potentially test higher threshold levels, particularly the critical resistance at $0.0000247. Technical Indicators Reveal Potential Price Movements On the technical front, Shiba Inu appears to be forming a consolidation range. Currently, the Relative Strength Index (RSI) stands below the neutral mark of 50, indicating bearish momentum remains present. Yet, the On-Balance Volume (OBV) failing to record lower lows over three weeks hints that significant selling pressure may be lacking. This conflicting data requires traders to remain vigilant, as implications of either trend could yield respective opportunities depending on market reactions. Liquidation Clusters Signal Critical Support and Resistance Levels Source: Coinglass The liquidation map highlights two key price levels of concern for SHIB: $0.00002117 and $0.00002312. These levels are critical as they coincide with high leverage clusters indicative of potential market reactions that may influence trading behavior dramatically. A visit to either of…

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Filed under: News - @ January 12, 2025 3:15 pm