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$SHIB Trapped Near Lows – Descending Channel Holds 🐕
Shiba Inu trading around $0.00000415–$0.0000043.
Technical Snapshot:
• Support: $0.0000040 (yearly low zone)
• Resistance: $0.0000045–$0.0000048
• Momentum: Bearish. Price remains inside a tight descending channel below all major EMAs. RSI near oversold but no clear reversal yet.
The Setup:
Recent big token burns (highest in 6 months) failed to spark a sustained bounce. Whale accumulation is present, but overall meme sector weakness keeps selling pressure alive. A clean break above the channel resistance is needed for any meaningful recovery. Loss of $0.0000040 risks further downside.
Range-bound and high-risk for now.
#SHIB #ShibaInu #Crypto
Shiba Inu’s trading price is around $0.00000415–$0.0000043.
Technical snapshot:
• Support: $0.0000040 (annual low zone)
• Resistance: $0.0000045–$0.0000048
• Momentum: Bearish. Price remains in a tight downtrend channel below all major EMAs. RSI is near oversold, but there is currently no clear reversal signal.
Setup:
A recent large token burn (highest in the past 6 months) failed to trigger a sustained rebound. Whales are accumulating, but the overall weakness in the meme sector keeps sell pressure active. For any meaningful recovery to occur, there must be an effective breakout above channel resistance. A break below $0.0000040 could bring further downside.
Currently, it is range-bound with elevated risk.
#SHIB #ShibaInu #Crypto