- Shiba Inu is range-bound as weak buying pressure limits further upward movement.
- On-chain data shows mild outflows and fading retail participation among traders.
- A breakout above $0.00001150 could revive momentum, while losing $0.00001000 risks deeper decline.
Shiba Inu attempted to regain lost ground from the decline it had experienced the previous week, but it now seems to be losing all that momentum. Having bounced from below $0.00000980, the token now trades near $0.00001065. Buyers defended key support, but resistance appears strong at around $0.000011. Traders seem to be hedging their bets, as liquidity dries up, and short-term momentum appears to be waning.
Shiba Inu Faces Pressure Below Resistance
Shiba Inu is locked in a descending triangle that has compressed since April. The upper limit is close to $0.00001330, while support is around $0.00001000, which is keeping price movement contained. This indicates that traders are feeling indecisive. The 20-day EMA is below the 50-day EMA, showing mild bearish pressure. Momentum indicators portray similar weakness.
The Money Flow Index showing no buying strength at around 40, and the RSI almost at 41, reflecting uncertain enthusiasm from buyers. The range of the 100-day and 200-day EMAs is very close to $0.00001300, with a heavy ceiling hanging well overhead. With the excitement of the near-term bounce early in October now fading fast, these readings tell the trader that there is little to cheer for at the moment.
Data from Coinglass confirms this cooling trend. Shiba Inu recorded a $1.15 million net outflow on October 15. That number extends a longer pattern of weak inflows since midyear. Most large holders remain inactive, while retail traders continue to sit on the sidelines. The mix points to waning confidence and short-term uncertainty.
Traders Watch for Breakout Signals
The short-term charts show a neutral disposition. In the 30-minute view, Shiba Inu is found hovering between $0.00001060 and $0.00001070. The Supertrend indicator is mixed, which suggests a pause in direction. The RSI values are between 41 and 49, indicating low momentum and indecision.
For a bounce higher to the upside, buyers must clear the resistance at $0.00001090. That move would confirm a short-term trend reversal and entice inflows back to the market. On the other hand, if Shiba Inu loses ground and drops below $0.00001000, it will allow for a deeper correction. The broader structure is still in compression, which may lead to breakout action in the near future.
There is resistance found between $0.00001150 and $0.00001250 and the main floor is holding on at $0.00001000. As volume increases and sentiment improves, Shiba Inu will eventually trade sideways within this smaller range. The near term outlook all depends on whether the bulls can defend support and reclaim higher levels.
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