Shiba Inu remains under pressure amid renewed selling in the broader crypto market. Analysts highlight the token’s vulnerability, noting that sellers control short-term price movements. Technical charts indicate SHIB continues to trade within a bearish structure, reinforcing downside risks.
Shiba Inu Bearish Structure Persists
Analyst HolderStat examined the 30-minute SHIB/USDT chart, noting that Shiba Inu remains within a descending trendline structure. The pattern, marked by lower highs and lower lows, confirms ongoing selling pressure. SHIB recently fell to approximately $0.0000055 before bouncing from the local low. However, the rebound lost momentum, failing to break above the descending resistance near $0.0000065.
HolderStat observed that price consolidation continues below the main descending trendline, while a weak rising support line forms beneath the price. This creates a tightening compression zone, reflecting weakening bullish strength. The analyst stated that the sloping trendline remains dynamic resistance, reinforced by multiple prior rejection points. “If this level holds, SHIB is likely to resume its downward move,” HolderStat said, adding that the price could revisit the $0.0000055 area.
Immediate Levels and Market Context
HolderStat’s report comes amid a broader market pullback, with SHIB losing momentum after trading near $0.0000062. The token slipped to around $0.0000060, reinforcing a short-term bearish trend. At the time of writing, SHIB is trading at $0.000006016, down 1.59% over 24 hours and has declined 12% over the past week. Over the past month, the token fell 30.24%, bringing year-to-date losses to 13.2%.
The analyst identified immediate resistance at $0.0000065, with higher barriers at $0.00000705 and $0.00000847. Nearest support lies at $0.00000562, forming a critical zone for potential stabilization. HolderStat emphasized that a decisive breakout and close above resistance would invalidate the bearish bias, signaling a possible short-term trend shift. Until then, sellers maintain structural control, keeping downside pressure favored.
Source: https://coinpaper.com/14464/shiba-inu-price-prediction-shib-could-drop-to-0-0000055-as-bearish-pattern-holds
