* SHIB is holding a key support zone around $0.00000520–$0.00000560, giving traders a potential bounce point.
* Resistance near $0.00000645–$0.00000650 is crucial; a clean break could trigger a bigger move.
* On-chain activity shows cooling interest, meaning recent price moves weren’t fully backed by user engagement.
After weeks of grinding lower inside a descending channel, SHIB is finally showing some signs of life. Price is sitting around $0.00000606, bouncing off a support zone between $0.00000520 and $0.00000560 that's held up multiple times now. When a level holds in a downtrend, it starts to mean something.
Analysts flagged a potential breakout setup, and the chart backs it up. A clean push past the trendline and resistance at $0.00000645–$0.00000650 could open the door to a 50% move. RSI at 58 leaves room to run before things get overheated, so bulls still have breathing room.
But it's not a clean story. On-chain activity cooled off after the recent price move, active addresses dropped from 2,900 to around 1,900, transfers fell too. Real breakouts tend to pull people in, not push them away.
That kind of cooling suggests the recent spike was price-driven curiosity, not genuine growing interest. For a move to actually hold, you want engagement rising alongside price, not fading behind it.
The bigger trend hasn't flipped yet either. The channel is still intact.
Everything comes down to $0.00000645. Clear it with conviction and $0.00000815 comes into view. Get rejected, and this is just another lower high in the same downtrend. The setup is there. SHIB still has to earn it.
* Resistance near $0.00000645–$0.00000650 is crucial; a clean break could trigger a bigger move.
* On-chain activity shows cooling interest, meaning recent price moves weren’t fully backed by user engagement.
After weeks of grinding lower inside a descending channel, SHIB is finally showing some signs of life. Price is sitting around $0.00000606, bouncing off a support zone between $0.00000520 and $0.00000560 that's held up multiple times now. When a level holds in a downtrend, it starts to mean something.
Analysts flagged a potential breakout setup, and the chart backs it up. A clean push past the trendline and resistance at $0.00000645–$0.00000650 could open the door to a 50% move. RSI at 58 leaves room to run before things get overheated, so bulls still have breathing room.
But it's not a clean story. On-chain activity cooled off after the recent price move, active addresses dropped from 2,900 to around 1,900, transfers fell too. Real breakouts tend to pull people in, not push them away.
That kind of cooling suggests the recent spike was price-driven curiosity, not genuine growing interest. For a move to actually hold, you want engagement rising alongside price, not fading behind it.
The bigger trend hasn't flipped yet either. The channel is still intact.
Everything comes down to $0.00000645. Clear it with conviction and $0.00000815 comes into view. Get rejected, and this is just another lower high in the same downtrend. The setup is there. SHIB still has to earn it.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.