- SHIB lost momentum after a 40% rally met heavy selling near $0.0000058.
- Bulls defend key support while moving averages preserve the short-term recovery.
- A break below $0.0000046 could trigger liquidations near $0.0000045.
Shiba Inu delivered an impressive breakout before meeting strong resistance from sellers. The rally sparked fresh optimism across the meme coin market. That excitement cooled after profit-taking erased part of the advance. Even so, SHIB continues trading above a key breakout region. Buyers now face an important challenge. Holding current support could restore confidence and create another opportunity for higher prices during the coming trading sessions.
SHIB Pullback Tests Bullish Momentum
SHIB climbed nearly 40% after breaking above a long consolidation range. The move carried the price from roughly $0.0000041 to almost $0.0000058. Strong buying pressure fueled the breakout before sellers regained control. Heavy selling quickly appeared near the rally peak. The four-hour chart formed a long upper wick. That pattern showed strong rejection at higher prices. Profit-taking also increased as traders locked gains. Price later settled between $0.0000046 and $0.0000048. Despite the retreat, SHIB remains above July’s previous trading range.
That development keeps the broader recovery intact for now. Several factors supported the earlier rally. South Korean retail demand increased during the advance. Token burns also accelerated while whale activity returned. Those developments strengthened market sentiment before the reversal. The latest decline suggests many short-term traders secured profits. Fresh buyers have not yet generated enough momentum for another breakout. Bulls must now defend newly established support. Technical indicators show a market searching for direction. SHIB trades close to both the 20-period and 50-period simple moving averages.
Those levels sit near current market prices. Holding above both averages would strengthen the bullish outlook.The 100-period and 200-period moving averages provide stronger support. Both continue rising beneath current price action. That structure favors buyers while price remains above those levels. The MACD indicator reflects slowing momentum. Both indicator lines have moved close together near zero. Selling pressure has eased, although bullish strength remains limited.
Support Near $0.0000045 Could Decide the Next Move
Bulls now need a four-hour close above $0.0000048. Such a move would signal renewed buying interest. Resistance would then appear near $0.0000050 before the larger supply zone between $0.0000052 and $0.0000054. The liquidation heatmap highlights another important area. A large liquidity cluster sits between $0.00000450 and $0.00000452. Markets often move toward such zones before reversing direction. Failure to hold above $0.0000046 could trigger another decline.
Long liquidations may increase if price reaches that liquidity pocket. Such a move would place greater pressure on bullish traders. Current price action remains balanced between support and resistance. Buyers still control the broader recovery structure. Stronger demand, however, must return before another sustained rally begins. The next few trading sessions could determine whether SHIB resumes higher or extends the current consolidation.
