‍#Gate广场五月交易分享 #SHIBA

Shiba Struggles at Critical Resistance

While meme coins have recently regained interest, Shiba had somewhat recovered from its prolonged decline at the beginning of the year. However, SHIB is stuck in the $0.0000063–$0.0000064 range. Although the price has gradually increased since March, it is struggling to overcome the resistance structure it encounters at the 100-day moving average.

Every serious upward attempt has either stalled or retreated at this critical technical hurdle. It has been noted that sellers are still defending this level, and trading volume has not increased sufficiently. Under these conditions, for SHIB to create new momentum in the short term, it needs to make sustained closes above the 100-day average and buyers need to become more prominent in the market.

Indicators, especially the RSI, point to a sideways trend. As long as the critical resistance is not broken, SHIB's structure may remain open to a new downward wave. While Bitcoin remains strong and overall market risk perception hasn't decreased, SHIB's inability to break through its resistance level is a negative signal.
‍$SHIB