Shiba Inu Price Falls 12% After Rejection From Key Resistance
- SHIB faces strong rejection near $0.00001558, risking a drop below key support.
- Bearish momentum dominates as SHIB trades near $0.00001328 with weak buyer conviction.
- Lunar cycle suggests a potential SHIB rebound in mid-August before a fall rally.
Shiba Inu (SHIB) continues to face mounting pressure as market sentiment turns cautious. Following a sharp rejection near the $0.00001558 resistance level, SHIB has now dipped to $0.00001330, marking a significant 11.91% drop over the past 24 hours. The recent price action suggests fading bullish strength, especially as the token hovers just above a vital support zone at $0.00001328.
With over $556 million in daily trading volume, the activity remains high, but the direction leans bearish. SHIB’s consolidation phase appears to be extending, raising concerns about a deeper correction if support fails to hold.
SHIB now testing a critical support level
SHIB’s daily chart shows clear signs of consolidation after a failed attempt to breach the $0.00001558 resistance. According to SHIB KNIGHT, the recent bearish candle confirms a strong rejection and fading bullish momentum.
Bulls now face the challenge of …
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Shiba Inu Price Falls 12% After Rejection From Key Resistance
- SHIB faces strong rejection near $0.00001558, risking a drop below key support.
- Bearish momentum dominates as SHIB trades near $0.00001328 with weak buyer conviction.
- Lunar cycle suggests a potential SHIB rebound in mid-August before a fall rally.
Shiba Inu (SHIB) continues to face mounting pressure as market sentiment turns cautious. Following a sharp rejection near the $0.00001558 resistance level, SHIB has now dipped to $0.00001330, marking a significant 11.91% drop over the past 24 hours. The recent price action suggests fading bullish strength, especially as the token hovers just above a vital support zone at $0.00001328.
With over $556 million in daily trading volume, the activity remains high, but the direction leans bearish. SHIB’s consolidation phase appears to be extending, raising concerns about a deeper correction if support fails to hold.
SHIB now testing a critical support level
SHIB’s daily chart shows clear signs of consolidation after a failed attempt to breach the $0.00001558 resistance. According to SHIB KNIGHT, the recent bearish candle confirms a strong rejection and fading bullish momentum.
Bulls now face the challenge of …
The post Shiba Inu Price Falls 12% After Rejection From Key Resistance appeared first on Coin Edition.
Read More