SHIB price begins to stabilize | Credit: Hameem Sarwar
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Key Takeaways
SHIB’s price bounced from the $0.0000052 support and formed higher lows.
However, momentum is fading as MACD flattens and the BBP weakens.
If bulls clear the $0.0000088 barrier, a move toward $0.000010 becomes likely.
The price of Shiba Inu (SHIB) has risen again after weeks of decline, as the memecoin shows signs of life.
For context asset has rebounded from key support, and momentum is building.
However, the rally is not convincing yet. With volatility returning to the crypto market, traders are now watching closely.
If bulls hold control, SHIB’s price could be setting up for a move toward the $0.000010 level. Will that happen?
Early Bullish Signal Stalls
At the time of writing, SHIB is attempting a recovery. Price action shows renewed strength after a prolonged downtrend.
However, the bullish move is slowing, raising questions about its sustainability.
After bottoming near the $0.0000052 support zone, SHIB’s price staged a steady rebound as buyers stepped in.
As a result, SHIB’s price climbed back toward the $0.0000066 resistance range.
On the 4-hour chart, the asset is now printing higher lows, signaling early bullish control.
However, momentum indicators on the 4-hour chart suggest caution. The Moving Average Convergence Divergence (MACD) recently crossed bullish but is now flattening.
In other words, buyers are still present, but conviction is declining.
A spike in volume could break the $0.0000066 resistance. Until then, SHIB’s price could continue ranging.
Liquidation Data Indicates Indecision
The liquidations chart remains low, with total liquidations around $38.6K on March 17, signaling reduced speculative pressure as the price holds near $0.0000060.
Short liquidations lead at about $25.2K, while longs trail at $13.4K. This shows slight bearish pressure.
However, volumes remain weak overall, pointing to low conviction.
Meanwhile, earlier spikes above $6 million have disappeared. Thus, volatility has cooled sharply.
If liquidations rise again, volatility could expand. Otherwise, SHIB’s price may continue to trade in a range without strong directional momentum.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
