SHIB’s Price Action Struggles as Key Moving Averages Pose Resistance: Is Shiba Inu Looking to Add Another Zero?

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Shiba Inu (SHIB) has been caught in a tug-of-war between bulls and bears, failing to sustain upward momentum over the past 24 hours. The price has slipped to $0.00001233, reflecting a 0.24% decline, as shown in the 4-hour Binance chart. Despite brief attempts to push higher, SHIB remains under pressure from key moving averages, signalling a potential downtrend continuation.

EMAs Indicate Bearish Momentum

The Exponential Moving Averages (EMAs) for the 20, 50, 100, and 200 periods provide a clear outlook on SHIB’s trend. The 20 EMA ($0.00001274) and 50 EMA ($0.00001271) have formed a strong resistance zone, capping SHIB’s recent attempts to break higher. The 100 EMA ($0.00001300) stands as the next crucial level to watch, while the 200 EMA ($0.00001401) remains distant, signalling the long-term trend remains bearish.

SHIB’s recent price rejection at these moving averages suggests that bears have the upper hand, with selling pressure intensifying.

Key Support and Resistance Levels

Immediate Resistance: $0.00001271 – $0.00001274 (50 EMA & 20 EMA)
Major Resistance: $0.00001300 (100 EMA), $0.00001401 (200 EMA)
Support Zone: $0.00001225 – $0.00001230

If SHIB fails to hold the $0.00001230 level, further downside pressure could drive the price toward the $0.00001200 psychological support. However, a bullish reversal above $0.00001274 could trigger renewed momentum, opening the doors for a retest of the $0.00001300 mark.

Market Sentiment and What’s Next for SHIB

With trading volume slowing down and price movement weakening, SHIB will likely consolidate before making a decisive move. To shift momentum in their favour, the bulls need to reclaim the 20 EMA and 50 EMA as support. Until then, sellers remain dominant.

Traders should watch for a breakout or breakdown confirmation as SHIB hovers around key levels. If bullish momentum returns, $0.00001300 remains the first major target, while failure to defend $0.00001230 could lead to a deeper correction.

The next few sessions will be critical in determining whether SHIB can mount a recovery or continue its downward trajectory.