SHIB: Struggling to Break Key Resistance
SHIB has shown a consolidation pattern in the last several hours, trading at $0.00001365, with both the 1H and 4H data indicating weak momentum and slight bearish tendencies. Recent whale activity and general meme-coin market interest have supported SHIB’s price, but technicals show a need for stronger momentum to push the price higher.
1H Chart Breakdown: Weak Momentum and Consolidation
On the 1-hour chart, SHIB has been hovering near its Bollinger Band Basis of $0.00001376, unable to gain significant bullish momentum. The RSI at 38.52 signals a slightly oversold condition, while the Stochastic Oscillator (%K at 3.85) is deep in oversold territory, hinting at a potential short-term bounce. However, the MACD is flat, and the ADX at 11.46 indicates a weak trend, suggesting the price might remain in a tight range unless there’s a volume spike.
Resistance: $0.00001387 (Upper BB)
Support: $0.00001365 (Lower BB)
4H Chart Breakdown: Bearish Momentum Building
The 4-hour chart is showing more caution, with SHIB sitting slightly below the Bollinger Band Basis ($0.00001369). The RSI at 49.70 is neutral but points toward a weakening bullish trend, while the Stochastic Oscillator (%K at 25.76) is still in oversold territory, suggesting potential for a brief upward correction. However, the MACD histogram is negative, indicating growing bearish momentum, while the ADX at 12.22 suggests the trend is still relatively weak.
Resistance: $0.00001411 (Upper BB, Parabolic SAR)
Support: $0.00001327 (Lower BB)
Support and Resistance Levels (Across Timeframes):
Immediate Resistance (1H & 4H): $0.00001387 - $0.00001411 (Upper BB, SAR level)
Immediate Support: $0.00001327 - $0.00001365 (Lower BB)
Actionable Strategy: Range-Bound Trading with Weak Momentum
Bullish Scenario:
If SHIB breaks above $0.00001387 (1H Upper BB), it could attempt a push toward $0.00001411 (4H resistance and SAR level). For traders seeking quick entries, look for a bounce confirmation with rising volume.
Bearish Scenario:
A failure to hold support at $0.00001365 could see SHIB testing the $0.00001327 level (Lower BB on 4H), and a break below this could open doors to more significant downside toward $0.00001280.
Action Point: Given the weak ADX and neutral momentum, consider range-bound trading strategies, setting tight stop-losses around $0.00001327 and aiming for modest profit-taking near $0.00001387.
1H Chart Breakdown: Weak Momentum and Consolidation
On the 1-hour chart, SHIB has been hovering near its Bollinger Band Basis of $0.00001376, unable to gain significant bullish momentum. The RSI at 38.52 signals a slightly oversold condition, while the Stochastic Oscillator (%K at 3.85) is deep in oversold territory, hinting at a potential short-term bounce. However, the MACD is flat, and the ADX at 11.46 indicates a weak trend, suggesting the price might remain in a tight range unless there’s a volume spike.
Resistance: $0.00001387 (Upper BB)
Support: $0.00001365 (Lower BB)
4H Chart Breakdown: Bearish Momentum Building
The 4-hour chart is showing more caution, with SHIB sitting slightly below the Bollinger Band Basis ($0.00001369). The RSI at 49.70 is neutral but points toward a weakening bullish trend, while the Stochastic Oscillator (%K at 25.76) is still in oversold territory, suggesting potential for a brief upward correction. However, the MACD histogram is negative, indicating growing bearish momentum, while the ADX at 12.22 suggests the trend is still relatively weak.
Resistance: $0.00001411 (Upper BB, Parabolic SAR)
Support: $0.00001327 (Lower BB)
Support and Resistance Levels (Across Timeframes):
Immediate Resistance (1H & 4H): $0.00001387 - $0.00001411 (Upper BB, SAR level)
Immediate Support: $0.00001327 - $0.00001365 (Lower BB)
Actionable Strategy: Range-Bound Trading with Weak Momentum
Bullish Scenario:
If SHIB breaks above $0.00001387 (1H Upper BB), it could attempt a push toward $0.00001411 (4H resistance and SAR level). For traders seeking quick entries, look for a bounce confirmation with rising volume.
Bearish Scenario:
A failure to hold support at $0.00001365 could see SHIB testing the $0.00001327 level (Lower BB on 4H), and a break below this could open doors to more significant downside toward $0.00001280.
Action Point: Given the weak ADX and neutral momentum, consider range-bound trading strategies, setting tight stop-losses around $0.00001327 and aiming for modest profit-taking near $0.00001387.
Claim a 7-day trial: t.me/cornix_groups_10_bot?start=group_invite-3301c0310d53475d9342f9bd0468cc6b
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Claim a 7-day trial: t.me/cornix_groups_10_bot?start=group_invite-3301c0310d53475d9342f9bd0468cc6b
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.