- Price Recovery: SHIB rebounded 3.71% despite major futures outflows, showing buyer interest.
- Resistance Levels: Immediate resistance at $0.00001017 could guide potential upside toward $0.000015.
- Technical Signals: Oversold momentum and support at $0.0000081 suggest range-bound trading near-term.
Shiba Inu has been attracting attention after showing resilience despite notable futures outflows. Traders pulled significant capital from leveraged positions, signaling caution in the short term. Despite this, SHIB’s price climbed over 3% in the past 24 hours, hinting at renewed buying interest. With trading volume picking up and technical setups evolving, the token presents a mix of risk and opportunity. Market participants are watching key resistance and support levels for the next potential move.
SHIB Price Recovers Amid Futures Withdrawals
Data from CoinGlass shows that 1.24 trillion SHIB tokens, valued at $10.5 million, left futures positions on the last day. This outflow surpassed $8.8 million in inflows, creating a net negative flow of $1.7 million. Traders appear to be reducing exposure to leveraged positions, reflecting either profit-taking or caution after recent price swings. Despite these withdrawals, Shiba Inu’s price rebounded from $0.00000815 to $0.00000853. The increase of 3.71% demonstrates that buyers are stepping in at lower levels.
Trading volume also rose by 4.39% to $94.53 million, suggesting steady market interest. Immediate resistance sits at $0.00001017, a level that traders will monitor closely. If SHIB breaks above this point, the next target may align with the 50-day moving average at $0.00001084. Analysts also note a long-term potential target of $0.000015 if bullish momentum gathers strength. While short-term futures outflows highlight caution, the recovery attempt indicates that market participants are not abandoning SHIB entirely.
Technical Signals Highlight Mixed Market Sentiment
Technical indicators provide a nuanced picture for Shiba Inu traders. A death cross recently formed on the hourly chart as the 50-hour moving average fell below the 20-hour moving average. This setup signals potential short-term bearish pressure and may lead to further consolidation. Traders should watch support levels closely, particularly the daily 50-period moving average at $0.0000081. Maintaining price above this zone is crucial for preserving upward momentum.
If this support fails, SHIB could drift toward the next level at $0.00000732. Momentum indicators like the Relative Strength Index suggest range-bound trading in the near term. Buyers and sellers have not yet established dominance, which could lead to sideways price action until a major catalyst emerges. Despite mixed technical signals, the recent price bounce shows resilience and highlights that traders continue to find value at lower levels.
Overall, Shiba Inu demonstrates strength even amid significant futures outflows. The token recovered from recent lows while trading activity increased, suggesting persistent interest. Resistance at $0.00001017 and long-term targets near $0.000015 will guide traders watching for breakout opportunities. Support at $0.0000081 remains critical for maintaining upward momentum.
