- The price hovers near $0.00001200, a key Fibonacci level, with potential for a reversal if buyers step in.
- MACD remains negative, and RSI at 32.43 nears oversold territory, signaling weak momentum and continued selling pressure.
- A failure to hold $0.00001200 support may push SHIB toward $0.00000940, while resistance near $0.0000193 remains a key challenge.
The support levels of Shiba Inu prove challenging to sustain which threatens disaster for the asset. Currently, SHIB is trading at approximately $0.000014374, reflecting a slight decline of -0.22%. The Shiba Inu price prediction sentiment is currently bearish , while Fear Greed Index is showing 39( Fear ).
SHIB at Critical Support: Will Fibonacci Levels Trigger a Reversal?
Researcher Ali indicates that SHIB has a key Fibonacci retracement level at $0.00001200 that would function as an upcoming strong support point in case selling pressure builds up. The subsequent major support area exists at $0.00000940 because this value coincides with both the 0.786 Fibonacci retracement level and its historical function as a strong reversal point for many assets.
The 0.5 Fibonacci retracement point near $0.0000193 has served as a barrier that prevents SHIB from maintaining upward trends. An increase in SHIB price towards $0.000017–$0.000021 could potentially occur when it maintains prices above $0.000012. It would mark possible future decline if SHIB falls below $0.0000193 with the potential to drop to $0.0000094.
The overall market trend shows downward movement while traders should monitor both market sentiment and resistance level breakouts as well as trading volume to validate shifting market direction.
SHIB Faces Bearish Pressure as Technical Indicators Weaken
The SHIB/USDT reflects a bearish sentiment, with key technical indicators signaling weak momentum. The MACD line at -0.00000004 and the signal line at -0.00000103, both below zero. This indicates bearish momentum and a lack of strong buying pressure.
Source: Trading View
The RSI level has reached 32.43 which puts SHIB near the region where prices could experience a possible reversal point after buyers intervene. The RSI shows weak strength which confirms that sellers still have control of the market.
Market movements suggest SHIB faces strong resistance to maintain its support zone while most recent upward pressure failed to break through. SHIB will need to break through numerous support barriers to experience any significant market recovery.
