Shiba Inu’s outlook hinges on crucial Fibonacci levels.
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Key Takeaways
SHIB price trades inside a descending channel similar to July’s failed recovery attempt.
Indicators remain weak as the AO is negative, and consolidation suggests a limited breakout.
The token’s support is $0.000011, while resistance is $0.000014. But what’s next?
The dust is settling after Shiba Inu (SHIB) plunged 16% over the past 30 days. But it’s not time to look away just yet — the levels SHIB defends or loses from here could determine whether it stages a rebound or slips into a more profound decline.
For traders, the focus now shifts to these crucial price levels that could shape SHIB’s next big move. Here they are.
SHIB Breakout Chance Remains Slim
On the daily chart, SHIB’s price trades inside a descending channel, a setup similar to July’s decline that eventually produced a false breakout.
During that move, SHIB briefly attempted to recover but failed to breach the $0.000014 resistance level.
This time, a confirmed breakout above the channel’s upper boundary could flip sentiment and open the door for SHIB to retest $0.000014. If buying pressure accelerates, it could also target higher levels.
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Once this happens, the next target could be a spike to $0.000019. However, as things stand, it might take more than the broader market sentiment for SHIB to hit these levels.
Demand has to be intense, and selling pressure needs to be low. However, that is not something the memecoin is experiencing as of this writing.
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.
