SHIB struggles to sustain momentum above $0.000013.
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Key Takeaways
After the market rebound, Shiba Inu reclaimed $0.000013, but the move looks weak.
SHIB is trading within a descending parallel channel and has formed a death cross.
A breakout above the symmetrical triangle’s upper boundary could lead to SHIB’s rally.
Shiba Inu (SHIB) continues to make breakout attempts, but each rally has struggled to hold momentum. This time, the token has managed to reclaim $0.000013, which aligns with the broader crypto market rebound.
However, despite the recovery, SHIB’s price will likely remain range-bound. Here’s why the memecoin may face difficulty sustaining a move higher.
SHIB Stuck in Range
Although SHIB’s price recently bounced off its local low, the 4-hour chart still paints a bearish picture. The Exponential Moving Averages (EMA) have formed a death cross, with the 20 EMA (blue) sliding below the 50 EMA (orange).
This crossover typically signals weakening momentum and raises the risk of continued range-bound movement unless buyers step in to reverse the trend.
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However, by the look of things, SHIB might struggle to see the price consistently extend higher. SHIB continues to struggle due to the overhead resistance at the supply zone, which is nearly $0.000014.
Each attempt to break above this level has faced heavy selling pressure, keeping the token capped within its current range. There is no clear signal that SHIB will successfully break through this resistance zone.
If the barrier holds, SHIB’s price will likely remain in short-term consolidation, particularly as it trades within a descending parallel channel.
This pattern typically signals sustained pressure from sellers, keeping the token trapped in a tight range until a breakout.
SHIB Price Analysis: Resistance Caps Rally
The daily chart setup reinforces the bearish tone already seen on the 4-hour timeframe. SHIB’s price remains trapped within a symmetrical triangle, a pattern that reflects uncertainty and consolidation as buyers and sellers battle for control.
At the same time, the Awesome Oscillator (AO) has slipped into negative territory, confirming bearish momentum. A negative AO reading suggests that short-term price action is losing steam against longer-term averages, tilting sentiment in favor of sellers.
Only a decisive flip of the AO back into positive territory — ideally accompanied by a breakout above the upper boundary of the pattern — would signal that bulls are regaining control and a sustainable rally could begin.
Given the current setup, a breakout looks unlikely, meaning SHIB’s price could slip below $0.000010 in the near term.
However, if momentum unexpectedly shifts in favor of the bulls, this bearish outlook may not materialize.
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.
