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Shiba Inu Struggles to Break Key Resistance as Market Sentiment Remains Bearish

Sun, 16 Mar 2025, 04:19 am UTC

Shiba Inu Struggles to Break Key Resistance as Market Sentiment Remains Bearish. Source: EconoTimes

Shiba Inu (SHIB) is once again attempting to recover lost ground, but strong resistance and an ongoing downtrend continue to limit its upside potential. Currently hovering around $0.000012, this level has acted as a crucial support zone in recent months. A decisive move above this mark could indicate a more substantial recovery, yet momentum remains uncertain.

Market liquidity and overall sentiment play a significant role in determining whether this recovery attempt will succeed where previous ones failed. Technically, SHIB is struggling to stay above its 50-day moving average, which is reinforcing downward pressure. Moreover, the asset remains below its 100- and 200-day moving averages, further confirming the dominant bearish trend.

If SHIB manages to break through the $0.0000135 resistance—where its last rally attempt failed—it could target the psychologically important $0.000015 level. However, failure to maintain its position above $0.000012 may lead to a retest of the $0.000011 support zone. A breakdown below this could accelerate losses, pushing SHIB closer to the critical $0.00001 mark.

Traders remain cautious as SHIB’s short-term outlook depends on market sentiment and broader cryptocurrency trends. Without strong buying momentum, any rebound may be short-lived. Investors are closely watching whether SHIB can reclaim key resistance levels to confirm a sustained recovery.

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Great article. Requesting a follow-up. Excellent analysis.

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Great article. Requesting a follow-up. Excellent analysis.
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