Shiba Inu (SHIB) is currently under downward pressure, trading below the Ichimoku Cloud — a technical indicator signaling ongoing bearish market conditions. Despite a recent attempt to break through resistance, SHIB was pushed lower by overnight high-volume selling, reflecting fragile sentiment in the broader cryptocurrency space.
Key Price Zones: Resistance at 0.00001307, Support at 0.00001275
Over the last 24 hours, SHIB’s price action has been shaped by significant trading activity at two key technical levels:
- Resistance: 0.00001307 — tested during peak volume periods between 16:00 and 22:00 UTC on Sunday.
- Support: 0.00001275 — validated by above-average volume during a 03:00 UTC reversal, which temporarily stabilized the market.
These levels currently define SHIB’s short-term trading range as global risk appetite remains suppressed.
Ichimoku Cloud Signals Bearish Momentum
The Ichimoku Cloud, a widely used trend-following indicator, shows SHIB trading well below the cloud structure, a strong technical sign of bearish momentum.
Crossovers below the cloud typically confirm downward trends, and SHIB’s failure to break through upper resistance reinforces this bearish view.
Recent attempts to reclaim higher ground were met with selling pressure near 0.00001293, forming a new short-term resistance zone.
Market Sentiment Influenced by Global Tensions
SHIB’s price weakness is not occurring in isolation. Geopolitical instability and uncertainty surrounding global trade policies are weighing on both traditional and digital asset markets. Meme-based cryptocurrencies like SHIB, which are particularly sensitive to sentiment shifts, are among the hardest hit.
Investor caution has intensified, as broader risk-off behavior dominates global markets.
Recent Volatility and Short-Term Outlook
In early morning trading, SHIB showed brief bullish momentum, rising from 0.00001289 to 0.00001293 between 07:13–07:19 UTC. However, this move was quickly reversed by 07:27 UTC, dropping the price by 1.2% to 0.00001283.
The final 30-minute candle reflected market exhaustion, as SHIB consolidated between 0.00001283 and 0.00001285 with declining volume, suggesting temporary stabilization but no clear reversal signal yet.
Conclusion
Shiba Inu remains vulnerable below key technical resistance and under the Ichimoku cloud. Until SHIB breaks above 0.00001307 with volume confirmation, the bearish outlook remains intact. Traders should monitor volume dynamics and macro developments, as both continue to drive short-term price action.