- SHIB uptrend stalls as bullish momentum fails, and price drops back to $0.00000714.
- Moving average crossovers signal weakness, confirming continued bearish pressure on Shiba Inu.
- Key support at $0.0000060 will determine whether SHIB can stabilize or fall further.
Shiba Inu fans got a brief dose of excitement last Friday as SHIB surged over 6% in a single day. The rally lifted prices from support around $0.0000070, briefly sparking hope for a sustained recovery. However, that momentum quickly faded. From the intraday high of $0.00000766, SHIB retraced nearly 6.7% to $0.00000714, signaling that bullish energy remains weak and the market still favors the bears.
Bullish Crossover Fails to Push Prices
On the hourly chart, SHIB recently showed a promising bullish crossover between the 26-period and 9-period moving averages. Normally, such a crossover signals that a downtrend may be losing strength and a reversal could be underway. Despite this, the token struggled to gain traction, and the bullish signal failed to translate into upward movement.
Shortly after, the 26-period MA crossed back above the 9-period MA, putting Shiba Inu back into bearish territory. This movement suggests downward pressure is still dominant. SHIB has a history of failed bullish signals. Earlier in December, a golden cross occurred on the hourly chart when the 50-period MA crossed above the 200-period MA. Yet, price pressure from sellers continued, leaving the bullish signal unfulfilled.
Technical indicators confirm that the bears remain in control. The RSI remains flat near 34.53, showing minimal strength to push prices higher. Additionally, SHIB is trading below key moving averages, including the 20-day, 50-day, and 200-day, highlighting persistent weakness. Attempts to reclaim these levels have been unsuccessful, keeping momentum stalled and market sentiment cautious.
Next Support Levels and Broader Market Influence
Broader market trends are compounding SHIB’s struggles. Bitcoin’s recent fluctuations have negatively impacted altcoins, including Shiba Inu. Without strong leadership from Bitcoin, smaller tokens are finding it difficult to mount meaningful rallies. As a result, SHIB continues to face headwinds, and any minor gains are being quickly reversed.
The weekly support level around $0.0000060 now represents the next critical zone. Traders will closely watch how SHIB reacts in this area. If the token holds above this support, a potential bounce could occur. However, a break below this level would likely open the door to further declines, keeping bearish pressure intact.
For now, SHIB’s recent price action highlights a lack of sustained bullish momentum. Despite occasional spikes and positive signals on shorter timeframes, the bears dominate the market. Traders should approach cautiously and monitor key support levels and moving averages closely. A decisive shift in momentum will be needed before any meaningful uptrend can resume.
Shiba Inu remains a highly watched token, but patience and careful observation are necessary. Until bullish pressure returns and breaks above critical resistance, the market appears to favor consolidation or a slow downward drift. This recent stall serves as a reminder that SHIB’s recovery may take time, and market forces remain unpredictable.
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