Shiba Inu Sees Short-Term Recovery but Momentum Fades
- Short-Term Inflow Recovery: Shiba Inu (SHIB) registered a net inflow of approximately 17.9 billion tokens on exchanges after four consecutive days of negative readings, suggesting a potential easing of short-term selling pressure, yet the muted price response indicates a lack of market confidence.
- Weak Price Movement: SHIB continues to trade below key moving averages and remains entrenched in a bearish trend, with the breakdown of the ascending channel from March to May marking a clear deterioration in market structure, as each rebound attempt has faced renewed selling pressure, failing to generate strong upward momentum.
- Divergence Between On-Chain Data and Price: While rising token outflows from exchanges typically signal a preference for holding, SHIB's price performance has not reflected this trend, indicating limited buying appetite among market participants despite significant withdrawals, including over 300 billion SHIB moved off trading platforms recently.
- Critical Resistance Zone Under Watch: Technical indicators show sellers have the upper hand, with SHIB needing to reclaim the former support area between $0.0000052 and $0.0000055 to confirm a recovery scenario; without surpassing this level, any upward attempts are viewed more as stability-seeking rather than a trend reversal, necessitating caution for token holders amid ongoing market volatility.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000354 | 0.00000392 | 0.00000434 | 0.00000472 | 0.00000514 | 0.00000552 | 0.00000594 |
| Fibonacci | 0.00000392 | 0.00000422 | 0.00000441 | 0.00000472 | 0.00000502 | 0.00000521 | 0.00000552 |
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