The news states that Shiba Inu (SHIB) has failed to break an important resistance level, specifically the 26 EMA. This resistance point has now become a strong barrier for SHIB, making it difficult for the cryptocurrency to resume its upward trajectory. The Global In/Out of the Money metric indicates that many SHIB holders are currently holding positions at a loss, suggesting waning bullish conviction. If market sentiment does not improve, SHIB could face a protracted period of consolidation or further declines. The technical chart shows continuous rejections below important moving averages, indicating downward pressure. SHIB may continue to decline if it fails to maintain above its recent support, but a break above the 26 EMA could revive bullish sentiment. Traders are advised to monitor the 468 trillion SHIB profitability level, as a breakthrough could ignite fresh bullish momentum, while continued failure at this level may lead to sustained downward pressure. Overall, SHIB's failure to overcome resistance highlights market hesitancy and investor caution.



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