Shiba Inu rebounded from around $0.000005843 after early selling pressure, shifting from a brief dip into a clear recovery phase. Strong buying momentum emerged, driving the price upward with a pattern of higher lows and steady gains toward the $0.000006089 area. The overall short-term structure now appears bullish, as buyers maintain control above previous resistance levels.
However, the $0.0000059–$0.0000060 zone remains a critical support region, and holding above this range will be essential to preserve upside momentum and prevent a deeper retracement. At the time of writing, SHIB is exchanging hands at $0.000006113, up 5.02% over the past 24 hours.
SHIB Risks Deeper Decline as Channel Breakdown Targets $0.00000138
According to Recent data by analyst Ali Martinez, Shiba Inu is trading near the lower boundary of its long-term descending channel on the weekly timeframe. The recent move below the $0.00000667 support suggests sellers are gaining control. Price action shows weak momentum and limited buying interest at current levels. This behavior signals that the broader trend remains under pressure. The inability to hold key support increases the risk of a deeper continuation move.
If the channel breakdown is confirmed, SHIB could open the door toward the $0.00000138 target highlighted by Ali Martinez. This level represents a major historical support zone from previous cycles. A move toward this area would reflect a full bearish continuation of the long-term structure. Bulls must reclaim the broken channel quickly to shift sentiment. Without a strong recovery, downside risks are likely to remain dominant.
SHIB Holds Near $0.00000607 as Bearish Trend and Momentum Persist
Shiba Inu is in a bearish trend on the 1-day timeframe, with price trading around $0.00000607 after continued lower highs. The rejection near $0.00000815 reinforced selling pressure and accelerated the decline. Price remains below the mid-range resistance at $0.00000676, keeping the structure weak. Although short-term stabilization is visible, the broader trend still favors sellers.
The Bollinger Bands show price hugging the lower band near $0.00000537, signaling strong downside momentum. The middle band around $0.00000676 is acting as dynamic resistance. On the MACD, both lines are below zero, with the MACD near -0.00000052 and the signal line near -0.00000047. The negative histogram confirms bearish momentum remains in control.
Source: https://coinpaper.com/14529/shiba-inu-price-prediction-shib-rebounds-5-but-channel-breakdown-warns-of-0-00000138-drop
