- Analyst Lingrid warns SHIB could drop 15% if support at $0.0000110 fails.
- Price remains below a descending channel, signaling continued bearish pressure.
- A rebound above $0.00001136 could trigger gains toward $0.0000125 and $0.0000136.
Shiba Inu is treading a fine line as traders watch a critical support level. The tokenโs price hovers below a key descending channel, signaling possible deeper losses ahead. Despite a mild recovery, analysts warn that bearish pressure remains dominant. With SHIB struggling to reclaim vital resistance levels, investors are weighing whether this rebound is just a pause before another drop or the start of a real turnaround.
Analyst Warns of Potential Breakdown
Crypto analyst Lingrid sounded the alarm after observing Shiba Inuโs price movement on a 4-hour chart. She pointed out that the token trades below a major confluence trendline that has contained price action since mid-August. This descending channel has shaped SHIBโs short-term trend, producing smaller sub-patterns along the way. Earlier this month, a market-wide selloff dragged SHIB to $0.0000067 before a modest recovery.
That bounce, however, failed to lift the token above the $0.00001078 confluence zone, which now acts as resistance. According to Lingrid, staying below that level keeps SHIB in bearish territory . The analyst added that unless SHIB breaks above $0.0000110, sideways trading may continue. She highlighted $0.00000865 as the next major support level, warning of a potential 15% correction if sellers regain control.
That target matches the lower boundary of the descending channel, where further losses could accelerate. Lingrid believes a breakdown below that zone might invite heavier selling. Such a move could extend the bearish structure and send SHIB to new local lows. Her chart indicates that the tokenโs technical setup remains fragile despite small intraday gains.
A Path to Recovery Still Exists
Still, not all signals look grim. Lingrid also pointed to a possible invalidation zone between $0.00001108 and $0.00001136. A sustained breakout above that range could shift market sentiment and spark fresh upside. That move could push SHIB toward $0.0000125 and $0.0000136, reflecting gains of up to 33%. Other analysts share similar expectations.
SwallowAcademy, another market observer, outlined a comparable recovery scenario. He highlighted the 200-day exponential moving average at $0.00001299 as a key upside target. Such a recovery could happen if broader crypto sentiment improves or if Bitcoin stages a sharp rebound. For now, SHIB traders face a critical period.
Failure to hold above support could confirm Lingridโs bearish outlook, while a breakout above resistance might restore confidence. As the token trades near pivotal technical levels, the next few days will likely determine its short-term direction. Shiba Inu may be showing signs of life, but pressure remains high.
