- SHIB is trading at close to the support level of $0.057754, where it has fallen by 4.3 percent in a day, which continues price movement that is highly within a range.
- The at times resistance at $0.058215 still suppresses upside movements and limits short term recovery between the 24-hour range.
- SHIB is stronger in comparison to ETH and BTC during the time of dollar weakness.
Shiba Inu (SHIB) continues to widen its recent withdrawal in the recent session, with the price moves remaining strained in major trading blocs. SHIB was trading at $0.057841 at the moment of reporting, which is equivalent to a 4.3% daily loss. This shift brought the token close to its short term support level thus creating a narrow and tightly followed trading formation.
Consequently, the players in the market followed the aspect of whether price stability would arise within the set range. Performance of the session was also reflective of the changes toward both Bitcoin and Ethereum, thus contributing additional background to the current adjustment.
SHIB Stuck in Tight Range as Key Levels Hold Firm
Notably, SHIB’s decline brought the price close to the identified support at $0.057754. This area marked the lower boundary of recent trading activity. Price action remained compressed, with the 24-hour range extending between support and resistance. This positioning indicated limited directional expansion during the session. However, the proximity to support placed added focus on near-term price behavior. Any movement below this zone would alter the short-term structure. Meanwhile, holding above support maintained the existing range-bound setup.
On the upper side, SHIB faced resistance at $0.058215, which defined the session’s recovery ceiling. Price action failed to reclaim this level during the observed period. As a result, upward attempts remained constrained. The resistance zone also aligned with the upper end of the daily range, reinforcing its technical relevance. However, the price continued oscillating below this threshold. This structure kept SHIB positioned between clearly defined levels, limiting volatility expansion. Consequently, traders monitored reactions near resistance for any directional confirmation.
SHIB Shows Mixed Strength vs BTC and ETH Amid Dollar Weakness
In addition to the dollar pricing, SHIB recorded uneven performance in major crypto pairs. Compared to Bitcoin, SHIB went at 0.0109075 BTC, which is an increment of 0.5%. Conversely, the token increased by 3.4 per cent over Ethereum at 0.082676 ETH. These relative gains gave further hints on the short-term positioning.
However, dollar-based weakness remained the dominant factor. Together, these metrics highlighted a market phase focused on consolidation rather than expansion. As price hovered between support and resistance, the data suggested continued sensitivity to nearby technical levels, shaping expectations for the next session’s direction.
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