Shiba Inu ($SHIB ) is showing signs of continued selling pressure on the daily chart, but buyers are attempting to defend the recent support zone.
According to the provided Binance screenshot, SHIB is trading around 0.00000468 USDT, down approximately 2.50% over 24 hours.
The market is approaching an important area where the next move could determine its short-term direction.
# Key Technical Levels
Level | Price (USDT)
Current price | 0.00000468 |
Immediate support | 0.00000467 |
Major support | 0.00000446 |
Lower support | 0.00000436 |
Immediate resistance | 0.00000477 |
Strong resistance | 0.00000482 |
Next resistance | 0.00000507 |
Major resistance | 0.00000516 |
# Moving Average Analysis
* MA(7): 0.00000482
* MA(25): 0.00000507
* MA(99): 0.00000516
$SHIB is trading below all three moving averages, suggesting that the broader daily trend remains bearish.
# Bullish Scenario
If buyers defend the 0.00000446 support area and price moves above 0.00000477 with stronger volume, a recovery toward 0.00000482 and 0.00000507 could become possible.
# Bearish Scenario
If $SHIB loses 0.00000446, further downside toward 0.00000436 may be possible. A sustained break below support would weaken the recovery outlook.
# My Market View
I would avoid chasing a quick bounce. Waiting for stronger buying volume and a confirmed breakout would be a more cautious approach.
SHIB needs to reclaim its short-term moving averages before a meaningful bullish reversal becomes convincing.
What do you think? Can SHIB recover from this support zone, or will sellers push the price lower?
#SHIB #ShibaInu #SHIBUSDT #CryptoAnalysis #TechnicalAnalysis
#BinanceSquare
According to the provided Binance screenshot, SHIB is trading around 0.00000468 USDT, down approximately 2.50% over 24 hours.
The market is approaching an important area where the next move could determine its short-term direction.
# Key Technical Levels
Level | Price (USDT)
Current price | 0.00000468 |
Immediate support | 0.00000467 |
Major support | 0.00000446 |
Lower support | 0.00000436 |
Immediate resistance | 0.00000477 |
Strong resistance | 0.00000482 |
Next resistance | 0.00000507 |
Major resistance | 0.00000516 |
# Moving Average Analysis
* MA(7): 0.00000482
* MA(25): 0.00000507
* MA(99): 0.00000516
$SHIB is trading below all three moving averages, suggesting that the broader daily trend remains bearish.
# Bullish Scenario
If buyers defend the 0.00000446 support area and price moves above 0.00000477 with stronger volume, a recovery toward 0.00000482 and 0.00000507 could become possible.
# Bearish Scenario
If $SHIB loses 0.00000446, further downside toward 0.00000436 may be possible. A sustained break below support would weaken the recovery outlook.
# My Market View
I would avoid chasing a quick bounce. Waiting for stronger buying volume and a confirmed breakout would be a more cautious approach.
SHIB needs to reclaim its short-term moving averages before a meaningful bullish reversal becomes convincing.
What do you think? Can SHIB recover from this support zone, or will sellers push the price lower?
#SHIB #ShibaInu #SHIBUSDT #CryptoAnalysis #TechnicalAnalysis
#BinanceSquare
