Lingrid | SHIBUSDT Sideways Break Lower ExpectedBINANCE:SHIBUSDT is trading below the confluence of the descending trendline and the former support, following a clear rejection and sell-off from the 0.0000148–0.0000136 resistance band. Structurally, price remains in a downward channel with a sequence of lower highs/lows after failing out of a short upward channel. If price stays capped beneath ~0.00001100, I favor continuation lower toward the channel base and 0.00000865 support; a decisive reclaim above 0.00001136 would soften the bearish view. Broader momentum is still negative, with repeated rejections and lower lows confirming downside pressure consistent.
⚠️ Risks:
A sustained break back above 0.00001108–0.00001136 could flip the near-term structure and force a squeeze toward 0.0000125–0.0000136.
Broad crypto strength or a sharp BTC rebound can invalidate downside continuation and lift CRYPTOCAP:SHIB with beta.
Headlines or liquidity spikes around memecoins may trigger erratic wicks that pierce the channel before direction resumes.
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
