Shiba Inu price has dropped below the mid-range level of $0.00001328 and is likely to test range support near $0.0000105. Short-term support sits at $0.00001184; a decisive break below $0.0000116 would signal further downside for SHIB.
SHIB dropped beneath the mid-range $0.00001328, increasing odds of a retest of $0.0000105.
Short-term support: $0.00001184; key warning level: $0.0000116.
Memecoin market cap fell ~18.8% in the past month; momentum indicators show mixed signals across timeframes.
Shiba Inu price analysis: SHIB drops below $0.00001328; watch $0.00001184 and $0.0000105 for trade setups. Read technical levels and trader actions.
What is driving the Shiba Inu price decline?
Shiba Inu price slipped under the mid-range $0.00001328 after failing to sustain a breakout. Low higher-timeframe trend strength, mixed momentum indicators and a broader memecoin market cap decline (about 18.8% in the past month) have pressured SHIB.
How are traders reacting to SHIB’s range-bound action?
Swing traders are focusing on clearly defined support and resistance. On the 1-day chart, swing points sit at $0.00001765 (resistance) and $0.00001028 (support). The CMF indicates buying pressure but remains below strong bullish thresholds, suggesting limited conviction.
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Source: https://en.coinotag.com/shiba-inu-shows-bearish-bias-after-falling-below-mid-range-could-test-range-lows/