According to U.Today, Shiba Inu (SHIB) has encountered a significant reversal after failing to break through the crucial resistance level of $0.000015. The price has since moved closer to the $0.000013 threshold, raising concerns about a potential decline. Despite this, SHIB remains in a sideways trend due to a notable decrease in market selling pressure.
The inability of bulls to sustain momentum above $0.000015 indicates a potential weakening, and further declines could occur if buying interest remains insufficient. The current market environment reflects indecisiveness among traders, with no clear movement in either direction. The $0.000013 level serves as critical support; if SHIB breaks below this, a deeper correction testing lower support levels may follow. Conversely, if SHIB holds this level and buyers step in, it could set the stage for another attempt to breach the $0.000015 resistance.
Three crucial price points are highlighted: $0.000015, which has proven to be a major obstacle and could signal a bullish reversal if broken; $0.000013, a crucial support level that SHIB needs to maintain to avoid a downtrend; and $0.000011, the next important support level to watch if selling pressure increases and SHIB breaks below $0.000013. This level could be where buyers attempt to halt further declines.