Primary trend remains bearish
SHIB continues to trade in a well-defined downtrend, with the 100/50-day EMAs remaining bearishly crossed. Price is still well below both moving averages, leaving the bears firmly in control.
First resistance to reclaim
The initial hurdle sits at 0.00000458, where previous support has turned into resistance. A break and close above this level would represent the first meaningful bullish change of character.
Momentum improving
RSI is beginning to recover but remains below the 50 level, showing that broader momentum still favours the bears. Meanwhile, StochRSI is climbing and has yet to reach overbought territory, leaving room for further upside.
Volume remains neutral
Trading volume has stayed relatively subdued throughout the recent consolidation, suggesting neither buyers nor sellers have taken decisive control. A sustained breakout would ideally be supported by stronger buying volume.
Resistance remains overhead
Should bulls reclaim 0.00000458, the next key resistance sits around 0.00000520. Until those levels are recovered, rallies should still be viewed within the context of the prevailing downtrend.
In Summary
SHIB has come a long way from its explosive rise, with price now trading around fresh historical lows against the dollar. Although momentum has started to improve, the 100/50-day EMAs remain bearishly crossed, while RSI is still below 50. Bulls first need a break and close above 0.00000458 to signal a bullish change of character. Until then, the broader trend continues to favour the bears.
SHIB continues to trade in a well-defined downtrend, with the 100/50-day EMAs remaining bearishly crossed. Price is still well below both moving averages, leaving the bears firmly in control.
First resistance to reclaim
The initial hurdle sits at 0.00000458, where previous support has turned into resistance. A break and close above this level would represent the first meaningful bullish change of character.
Momentum improving
RSI is beginning to recover but remains below the 50 level, showing that broader momentum still favours the bears. Meanwhile, StochRSI is climbing and has yet to reach overbought territory, leaving room for further upside.
Volume remains neutral
Trading volume has stayed relatively subdued throughout the recent consolidation, suggesting neither buyers nor sellers have taken decisive control. A sustained breakout would ideally be supported by stronger buying volume.
Resistance remains overhead
Should bulls reclaim 0.00000458, the next key resistance sits around 0.00000520. Until those levels are recovered, rallies should still be viewed within the context of the prevailing downtrend.
In Summary
SHIB has come a long way from its explosive rise, with price now trading around fresh historical lows against the dollar. Although momentum has started to improve, the 100/50-day EMAs remain bearishly crossed, while RSI is still below 50. Bulls first need a break and close above 0.00000458 to signal a bullish change of character. Until then, the broader trend continues to favour the bears.
I analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions.
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.
I analyse markets by observing levels, patterns, and structure. I share my process and reasoning for educational purposes, helping readers understand market behaviour without giving advice or predictions.
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.