Shiba Inu (SHIB) enters the weekend within striking distance of a key Bollinger Bands level, with the price of the coin now sitting about 2.65% below the midline of it midband, represented by the 20-day moving average — a threshold often associated with a transition from corrective structure to early recovery.
On the daily SHIB/USDT chart by TradingView, the coin is changing hands near $0.00000626, while the 20-day simple moving average, which forms the basis of the Bollinger Bands, stands near $0.00000635. A confirmed close above that zone would position SHIB back inside the upper half of the bands — the one the coin lost this week after a 3.23% sell-off.
Identifying SHIB’s recovery targets and downside risks
Since early January, SHIB has trended lower from the $0.000009 region, printing a sequence of lower highs and lower lows. The lower Bollinger Band recently compressed near $0.0000056, where buyers stepped in, producing a bounce that briefly pushed the price toward $0.000007. That rebound stalled, but the token has not revisited its February low, suggesting supply may be thinning at the margin.
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Historically, such compression phases precede directional moves, though not always upward. A daily close above $0.00000635 would open the path toward the upper band near $0.000007, which now aligns with visible horizontal resistance.
Daily SHIB/USDT chart by TradingViewFebruary has historically produced mixed results for SHIB, with prior years showing both double-digit gains and drawdowns of the same scale. Current monthly performance remains negative too.
For now, a decisive reclaiming of the midband would mark the first improvement since January. Failure to hold above $0.000006 would likely return focus to the $0.0000056 support area, which is 10% below the current price point.
The 2% gap is small in absolute terms, but in the current market environment for the Shiba Inu coin, it defines the difference between stabilization and continuation.
Source: https://u.today/shiba-inu-shib-tests-key-bollinger-band-resistance-just-3-from-breakout
