Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Following months of declining price action, Shiba Inu has dropped below the crucial $0.000006 level, indicating the ongoing pressure on the asset. While a collapse is not always confirmed by the breakdown, it does indicate that bulls are having difficulty defending important support areas, as the overall trend continues to be skewed downward. Since SHIB is currently attempting to stabilize just below that psychological threshold, the upcoming sessions will be crucial in establishing the short-term course.
Shiba Inu in losing position
A rising short-term trendline supports the price's attempt to construct a modest recovery from recent lows, according to the current structure. Nevertheless, there is still little momentum, and the asset is still below significant moving averages, which serve as resistance. Practically speaking, this indicates that SHIB is operating from a vulnerability. The market will probably view rallies as relief moves rather than verified reversals, as long as it remains below the lost $0.000006 region.
It is safe to say that SHIB's ability to recover is not nonexistent, and it can maintain its position above $0.000006. That level is now the first major battleground since it changed from support to resistance. If buyers are regaining control, a sustained move back above it could pave the way for a more robust rebound. The focus remains on downside risks in the absence of that recovery.
It is obvious what the next levels will be. In line with recent local lows and the rising trendline that has momentarily slowed the decline, the first support is located close to $0.0000055. More selling pressure might be generated if this zone is broken. The next significant structural level below that is $0.0000050, where buyers have previously expressed interest and where the market may try to reach another base.
Resistance at $0.0000065 is crucial on the upside; regaining it would enhance market structure and indicate the possibility of an early recovery. Expectations should stay balanced moving forward. While SHIB is not yet displaying significant bullish momentum, it is attempting to prevent a more severe breakdown by consolidating close to support.
Vladislav Sopov
Dan Burgin