SHIB Death Cross Tests $0.0000060 Support — Sellers Press On

| timestabloid.com
Shiba Inu (SHIB) came under renewed selling pressure after death crosses formed on lower timeframes. The 1-hour death cross appeared on Feb. 19, followed by a confirmed 2-hour death cross on Feb. 23 when the 200-period moving average crossed above the 50-period MA. The technical signals coincided with a sharp 4.2% 2-hour decline that pushed SHIB to the $0.0000060 support zone, a brief rebound to $0.00000614, and current trading near $0.00000592. Key short-term support sits at $0.0000060; failure to hold could open downside toward $0.0000057 and possibly $0.0000050. Potential resistance on any bounce is at $0.0000066, $0.0000072 and $0.0000078. Because SHIB remains below most major moving averages, sustained rallies are unlikely without a clear breakout. Traders should treat the death cross as a lagging but widely watched sign of weakening momentum, monitor the $0.0000060 support and watch for on-chain or market-wide catalysts to confirm direction. This information is for market participants and not financial advice.
Bearish
The development of death crosses on the 1-hour and 2-hour charts, combined with a sharp 4.2% short-term decline and SHIB trading below major moving averages, points to weakening momentum and increased downside risk. Short-term technical structure is bearish: immediate support at $0.0000060 is the key level — a break would likely accelerate selling toward $0.0000057 and $0.0000050. Resistance levels on any rebound (around $0.0000066–$0.0000078) are distant relative to the current price and sit beneath major MAs, making sustained rallies unlikely without a decisive breakout and improving volume or positive on-chain signals. For traders, this suggests higher probability of short or sell-side setups on failed bounces and tight risk management around the $0.0000060 support. Over the longer term, unless SHIB reclaims and holds above larger moving averages and shows renewed buying volume, the bearish signal could propagate to higher timeframes, reinforcing downtrend bias.