Shiba Inu is trading at approximately $0.000005808, having started around $0.00000597 before briefly climbing to $0.00000605, where it met resistance. The token failed to sustain gains above the key $0.00000600 zone and reversed sharply, breaking support and entering a clear downtrend with consecutive lower highs and lower lows. Selling pressure pushed the price down toward $0.00000580, where it has stabilized near current levels. Overall, the structure reflects short-term bearish momentum, with $0.00000600–$0.00000605 acting as resistance and $0.00000580 as immediate support.
SHIB Eyes Reversal From Key Support, Long-Term Rally in Focus
According to analyst Crypto GVR, SHIB is approaching a critical demand zone between $0.000005 and $0.0000061, with the token currently trading around $0.00000606. This area is viewed as a potential accumulation range. Buyers could absorb ongoing selling pressure after the recent decline from higher levels. If SHIB holds above $0.000005 and maintains stability near $0.0000060, it may confirm that sellers are weakening. A sustained defense of this support zone would increase the probability of a short-term base forming.
From a long-term outlook, Crypto GVR projects that a confirmed reversal from the $0.000005–$0.0000061 range could eventually drive SHIB toward $0.00002 and possibly $0.00003. However, this move would require a breakout above interim resistance levels near $0.000009–$0.000012, followed by strong volume expansion. Holding above $0.000005 remains critical, as a breakdown below this level could invalidate the bullish structure and extend the downtrend.
Shiba Inu Price Extends Downtrend as Bearish Momentum Strengthens
On the 1-day chart, Shiba Inu is in a clear downtrend characterized by consistent lower highs and lower lows. After a brief rally earlier in the period, price action rolled over, and sellers regained control, pushing SHIB steadily downward. Recent candles show continued weakness, with price hovering near short-term support around the $0.0000057–$0.0000058 zone. The structure remains bearish unless a strong rebound breaks the sequence of lower highs and establishes a higher high.
The MACD is below the zero line, with the MACD line trading beneath the signal line and red histogram bars expanding, signaling increasing downside momentum. Meanwhile, the RSI is near the low 30s, approaching oversold territory but not yet showing a strong bullish divergence. This suggests selling pressure remains dominant, although the market is nearing levels where a short-term relief bounce could occur if buyers step in.
Source: https://coinpaper.com/14497/shiba-inu-price-prediction-shib-tests-0-00000581-support-as-analyst-eyes-0-00002-rally
