At the time of writing, 
SHIBUSDT is trading at $0.00001366, holding above the local support of $0.00001285. The altcoin has yet to reach the crucial resistance level of $0.00001435, which marks a significant hurdle for its recovery.
The HODL Cave analysis reveals thatSHIBUSDT holders who have held their tokens for 18 to 20 months are currently the most profitable, second only to the all-time low (ATL) buyers. These long-term investors are seeing median profits ranging from 1.54x to 1.57x.
The 2-Year Mean Coin Age indicator, which tracks the movement of tokens over the past two years, is currently showing an uptick. Over the past two months, only one instance of selling has been recorded, highlighting the ongoing resilience ofSHIBUSDT long-term holders.
Breaking through $0.00001435 is essential forSHIBUSDT to make its way to $0.00001553. Reaching this level would signal the recovery of July's losses and indicate that SHIB is back on track for further gains. The support from the most profitable holders is likely to play a pivotal role in helping SHIB break through this resistance.
However, ifSHIBUSDT faces heavy selling pressure from skeptical holders or retail investors, the price could fall below the support of $0.00001252. This would likely trigger a decline towards $0.00001182 or lower, invalidating the bullish thesis and signaling further downside for the altcoin.
SHIBUSDT is trading at $0.00001366, holding above the local support of $0.00001285. The altcoin has yet to reach the crucial resistance level of $0.00001435, which marks a significant hurdle for its recovery. The HODL Cave analysis reveals that
SHIBUSDT holders who have held their tokens for 18 to 20 months are currently the most profitable, second only to the all-time low (ATL) buyers. These long-term investors are seeing median profits ranging from 1.54x to 1.57x.The 2-Year Mean Coin Age indicator, which tracks the movement of tokens over the past two years, is currently showing an uptick. Over the past two months, only one instance of selling has been recorded, highlighting the ongoing resilience of
SHIBUSDT long-term holders.Breaking through $0.00001435 is essential for
SHIBUSDT to make its way to $0.00001553. Reaching this level would signal the recovery of July's losses and indicate that SHIB is back on track for further gains. The support from the most profitable holders is likely to play a pivotal role in helping SHIB break through this resistance.However, if
SHIBUSDT faces heavy selling pressure from skeptical holders or retail investors, the price could fall below the support of $0.00001252. This would likely trigger a decline towards $0.00001182 or lower, invalidating the bullish thesis and signaling further downside for the altcoin. 
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Truly Unbiased Cryptocurrency News beincrypto.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.