** SHIB Price Faces Pressure Despite Recent Rally – Technical Analysis Shows Mixed Signals

**

Quick Take

• SHIB currently experiencing -6.25% decline in 24-hour trading
• Shiba Inu’s RSI at 40.56 indicates neutral territory with bearish undertones
• Recent 15% rally on September 21 losing momentum amid market volatility
• SHIB trading near Bollinger Band lower support with increased selling pressure

What’s Driving Shiba Inu Price Today?

The SHIB price action reflects a pullback from last weekend’s impressive rally, where Shiba Inu broke through multi-month resistance levels with a 15% surge on September 21. This breakout initially signaled renewed investor confidence and marked a significant technical milestone for the meme coin.

However, the current decline suggests profit-taking behavior as traders capitalize on the recent gains. The earlier momentum from September 21 appears to be cooling, with the market showing typical volatility patterns following sharp price movements. Trading volume on Binance spot remains robust at $38.3 million, indicating continued interest despite the current bearish pressure.

Earlier market analysis from September 18 had shown SHIB maintaining support around $0.00001310 while facing resistance near $0.00001380, with on-chain data revealing $1.52 million in outflows that suggested fragile demand dynamics. This cautious sentiment appears to be materializing in today’s price action.

SHIB Technical Analysis: Bearish Signals Emerge

The Shiba Inu technical analysis reveals several concerning indicators for short-term traders. SHIB’s RSI currently sits at 40.56, placing it in neutral territory but with a clear bearish bias as it approaches oversold conditions below 30.

The MACD histogram shows negative momentum for SHIB, with the bearish crossover suggesting continued downward pressure in the near term. This technical setup often precedes further price declines, making it crucial for traders to monitor support levels closely.

Shiba Inu’s Stochastic indicators present a more oversold picture, with %K at 11.76 and %D at 17.34. These extremely low readings typically indicate that SHIB may be due for a bounce, though the timing remains uncertain without additional bullish catalysts.

The Bollinger Bands positioning shows SHIB trading near the lower band support at 0.1344, which historically has provided buying opportunities for contrarian traders. However, sustained trading below this level could signal further weakness ahead.

Shiba Inu Price Levels: Key Support and Resistance

Based on current Shiba Inu support levels, traders should watch for potential bounces at the immediate support zone. The technical structure suggests that SHIB resistance will likely form at previous support levels that have now flipped to resistance.

The SHIB/USDT pair shows critical levels that could determine the next directional move. A break below immediate support could trigger additional selling toward stronger support levels, while any recovery would need to reclaim key resistance areas to confirm bullish momentum.

Volume analysis indicates that significant buying interest would be needed to reverse the current trend, with traders watching for any increase in accumulation activity at these lower levels.

Should You Buy SHIB Now? Risk-Reward Analysis

For aggressive traders, the current SHIB price decline presents a potential contrarian opportunity, especially given the oversold Stochastic readings. However, the bearish MACD momentum suggests waiting for additional confirmation before entering long positions.

Conservative investors should wait for clearer reversal signals, including SHIB’s RSI moving back above 50 and positive MACD crossover. The risk of further decline remains elevated given the current technical setup.

Day traders can focus on the Bollinger Band lower support for potential scalping opportunities, but should maintain tight stop-losses given the volatile nature of the SHIB/USDT pair. Based on Binance spot market data, volume patterns suggest institutional interest remains limited during this pullback phase.

Risk management becomes crucial at these levels, with position sizing adjusted for the high volatility environment that characterizes meme coin trading.

Conclusion

The SHIB price currently faces technical headwinds despite last week’s impressive rally, with multiple indicators pointing to continued near-term pressure. While oversold conditions may provide bounce opportunities for skilled traders, the overall momentum favors caution until clearer reversal signals emerge. Traders should monitor the key support levels closely over the next 24-48 hours, as a decisive break could determine whether this represents a healthy pullback or the beginning of a deeper correction.

Image source: Shutterstock