Shiba Inu Faces Bearish Pressure as $0.0000060 Rejects
Shiba Inu (SHIB) is trading near $0.00000609, up about 6% in 24 hours, but analysts say bearish pressure remains as resistance holds around $0.0000060. In the 4-hour structure, Crypto Patel notes repeated rejection near the $0.0000060 resistance/order block has weakened momentum and shifted price action to lower highs—often a setup for bearish continuation.
Key technical levels highlighted for Shiba Inu: a downside liquidity target near $0.00000562 (about 6% below current levels) and a deeper draw zone around $0.00000523 (roughly 12% lower). A bearish scenario could accelerate if SHIB fails again at the $0.0000060 order block.
On-chain and flow indicators also lean sell-side. Exchange netflow reportedly rose 2.5% to about 161 billion SHIB within 24 hours even while SHIB rose 3.7%, suggesting holders are selling into strength rather than accumulating. Exchange reserves have also increased to roughly 81.51T SHIB (from ~81.32T on April 1), which can imply more supply on exchanges and added price pressure.
Invalidation point: a 4-hour close above $0.00000630 would undermine the bearish setup and could help absorb selling momentum.
Bearish
The article frames Shiba Inu as still vulnerable despite a positive 24-hour print. The core bearish thesis is technical: repeated rejection near the $0.0000060 resistance/order block has produced lower highs on the 4-hour timeframe, which commonly precedes downside continuation rather than a clean breakout.
It is reinforced by market microstructure signals. Rising exchange netflow alongside price gains indicates coins are moving to exchanges while the market is up—often interpreted as sell-side behavior (traders liquidating into strength). Increasing exchange reserves further supports the idea of greater near-term sell pressure.
For trading implications, this setup suggests higher risk of a move toward the identified liquidity levels ($0.00000562 then $0.00000523) if SHIB fails again at $0.0000060. Conversely, the stated invalidation—an intraday/4-hour close above $0.00000630—would mirror the kind of “structure reclaim” traders look for after prior sell-wall rejections, potentially shifting momentum and reducing downside probability.
Short-term, expect volatility around the order block and liquidity draws. Longer-term outcome depends on whether SHIB can flip the order block into support; if not, repeated rejection behavior historically tends to repeat (range breakdowns followed by liquidity grabs).