SHIB remains under pressure, with no clear sign of a trend reversal yet
#SHIB previously attempted to rebound toward $0.00000620, but faced significant selling pressure and then fell back again. The price is currently around $0.00000464, below the major moving averages, indicating that the overall trend remains weak. These moving averages are also acting as overhead resistance.
Technically, SHIB recently broke below its previous ascending trendline, meaning its former uptrend structure has been disrupted. Although the price has shown some signs of stabilizing near $0.00000450, trading volume remains low, suggesting insufficient buying interest and little appetite for a market rebound.
The RSI is currently between 35 and 40, approaching oversold territory, but there is no clear reversal signal yet. In short, although the price has fallen considerably, it is too early to conclude that it has bottomed out.
Key price levels:
Support: $0.00000450, $0.00000430, and $0.00000410.
Resistance: $0.00000490–$0.00000500.
Rebound target: A sustained move above $0.00000520 would make it more likely that the market is gradually recovering.
#SHIB previously attempted to rebound toward $0.00000620, but faced significant selling pressure and then fell back again. The price is currently around $0.00000464, below the major moving averages, indicating that the overall trend remains weak. These moving averages are also acting as overhead resistance.
Technically, SHIB recently broke below its previous ascending trendline, meaning its former uptrend structure has been disrupted. Although the price has shown some signs of stabilizing near $0.00000450, trading volume remains low, suggesting insufficient buying interest and little appetite for a market rebound.
The RSI is currently between 35 and 40, approaching oversold territory, but there is no clear reversal signal yet. In short, although the price has fallen considerably, it is too early to conclude that it has bottomed out.
Key price levels:
Support: $0.00000450, $0.00000430, and $0.00000410.
Resistance: $0.00000490–$0.00000500.
Rebound target: A sustained move above $0.00000520 would make it more likely that the market is gradually recovering.