• Analyst Lingrid warns SHIB could drop 15% if support at $0.0000110 fails.
• Price remains below a descending channel, signaling continued bearish pressure.
• A rebound above $0.00001136 could trigger gains toward $0.0000125 and $0.0000136.

Shiba Inu is treading a fine line as traders watch a critical support level. The token’s price hovers below a key descending channel, signaling possible deeper losses ahead. Despite a mild recovery, analysts warn that bearish pressure remains dominant. With SHIB struggling to reclaim vital resistance levels, investors are weighing whether this rebound is just a pause before another drop or the start of a real turnaround.

Analyst Warns of Potential Breakdown

Crypto analyst Lingrid sounded the alarm after observing Shiba Inu’s price movement on a 4-hour chart. She pointed out that the token trades below a major confluence trendline that has contained price action since mid-August. This descending channel has shaped SHIB’s short-term trend, producing smaller sub-patterns along the way. Earlier this month, a market-wide selloff dragged SHIB to $0.0000067 before a modest recovery.

That bounce, however, failed to lift the token above the $0.00001078 confluence zone, which now acts as resistance. According to Lingrid, staying below that level keeps SHIB in bearish territory. The analyst added that unless SHIB breaks above $0.0000110, sideways trading may continue. She highlighted $0.00000865 as the next major support level, warning of a potential 15% correction if sellers regain control.

That target matches the lower boundary of the descending channel, where further losses could accelerate. Lingrid believes a breakdown below that zone might invite heavier selling. Such a move could extend the bearish structure and send SHIB to new local lows. Her chart indicates that the token’s technical setup remains fragile despite small intraday gains.

A Path to Recovery Still Exists

Still, not all signals look grim. Lingrid also pointed to a possible invalidation zone between $0.00001108 and $0.00001136. A sustained breakout above that range could shift market sentiment and spark fresh upside. That move could push SHIB toward $0.0000125 and $0.0000136, reflecting gains of up to 33%. Other analysts share similar expectations.

SwallowAcademy, another market observer, outlined a comparable recovery scenario. He highlighted the 200-day exponential moving average at $0.00001299 as a key upside target. Such a recovery could happen if broader crypto sentiment improves or if Bitcoin stages a sharp rebound. For now, SHIB traders face a critical period.

Failure to hold above support could confirm Lingrid’s bearish outlook, while a breakout above resistance might restore confidence. As the token trades near pivotal technical levels, the next few days will likely determine its short-term direction. Shiba Inu may be showing signs of life, but pressure remains high.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed