#SHIB is currently trading at around $0.00000499 and testing the $0.000005 level. Since reaching a high near $0.00000625 in September, SHIB has generally continued to weaken. Multiple rebounds have been capped by overhead moving averages, and buying pressure remains insufficient.
Technical analysis: Since October, SHIB has fallen below several moving averages. These averages are now clustered between $0.00000526 and $0.00000545, forming strong resistance. In addition, the 200-day moving average is near $0.00000560, making a short-term reversal difficult.
The RSI is approaching 40, while trading volume remains relatively low, suggesting weak market momentum and a lack of clear bullish signals for now.
Key levels:
Support: $0.00000480. If the daily close falls below this level, the price could decline further to $0.00000440, or even the July low of $0.00000405.
Resistance: $0.00000526–$0.00000545. A break above this range would open the door to a further test of $0.00000560.
Technical analysis: Since October, SHIB has fallen below several moving averages. These averages are now clustered between $0.00000526 and $0.00000545, forming strong resistance. In addition, the 200-day moving average is near $0.00000560, making a short-term reversal difficult.
The RSI is approaching 40, while trading volume remains relatively low, suggesting weak market momentum and a lack of clear bullish signals for now.
Key levels:
Support: $0.00000480. If the daily close falls below this level, the price could decline further to $0.00000440, or even the July low of $0.00000405.
Resistance: $0.00000526–$0.00000545. A break above this range would open the door to a further test of $0.00000560.