Key Insights:
- SHIB trades just under $0.000013 resistance with buyers building support around $0.00001200.
- Long-term chart shows SHIB in accumulation zone between $0.00001000 and $0.00001250 levels.
- Break above $0.000013 with volume could open a path toward a $0.0000155 price target soon.
Shiba Inu (SHIB) was trading near a key resistance level that traders are closely monitoring. At the time of writing, SHIB was priced at $0.00001247, with a 24-hour trading volume of approximately $196 million. The token is down slightly by 0.42% on the day but has gained 7% over the past week.
Price Holds Below Key Resistance at $0.000013
The short-term SHIB/USDT chart shows price movement just under the $0.000013 level. This zone has acted as resistance in recent sessions. Sellers have previously stepped in at this point, preventing further gains. SHIB is currently consolidating around $0.00001247, showing limited volatility in the near term.
Analyst CW stated,
Source: CW/XThis level aligns with a previous rejection zone visible on the 4-hour chart. Below current levels, demand appears between $0.00001050 and $0.00001200, providing a possible support base.
Accumulation Phase Visible on Long-Term Chart
A weekly view shared by EtherNasyonaL shows that SHIB has remained in a sideways range for months. The price has held between $0.00001000 and $0.00001250, forming what appears to be an accumulation zone. This phase has followed a steady downtrend since the all-time high in 2021.
A descending trendline drawn from that high remains unbroken. SHIB is once again approaching this line. The chart includes possible future moves toward earlier supply zones around $0.00002500, $0.00003500, and $0.00006000, assuming price breaks above the trendline. The analyst described this setup as “the calm before the storm,” referring to the current low-volatility range.
Volume Builds as Market Watches Key Level
Trading activity has picked up during recent upward moves, showing increased participation. However, no breakout has been confirmed. The $0.000013 level remains the area to watch. A move above this zone, supported by volume, would add strength to the next target around $0.0000155.
Until that happens, SHIB may continue to trade within the current range. Buyers will likely need to defend levels near $0.00001200 to keep momentum in place. The next sessions may be important in determining whether SHIB can attempt a move beyond its current ceiling.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/shib-bulls-target-0-0000155/
