SHIB 2‑Hour Death Cross Tests $0.0000060 Support; Failure Risks Drop to $0.0000050
Shiba Inu (SHIB) has formed a death cross on higher timeframes, with the 200-period moving average crossing above the 50-period MA on the 2‑hour chart — a progression of earlier bearish signals on lower timeframes. The post‑cross correction pushed SHIB down to test a key demand zone at $0.0000060; current price action around $0.0000059–$0.0000060 shows short‑term resilience but remains below major moving averages. Immediate upside targets (relief levels) are $0.0000066, $0.0000072 and $0.0000078 if buyers defend $0.0000060. A decisive break below $0.0000060 would expose supports at $0.0000057 and $0.0000050, where prior buying occurred. Traders should note the death cross is a lagging indicator that often confirms existing trends; successive crosses from lower to higher timeframes increase bearish conviction and raise the probability of further downside. Monitor volume, intraday momentum, and upcoming macro catalysts that affect risk appetite before adjusting positions — the pattern favors short-term bearish positioning, while any upside is likely a relief rally rather than a confirmed reversal.
Bearish
The combined reports point to growing bearish conviction for SHIB. A death cross formed first on lower timeframes and progressed to the 2‑hour chart, indicating that short-term momentum has flipped negative and that sellers have control. Price is testing a defined demand zone at $0.0000060 — a soft line between a relief bounce and further declines. Technical structure favors downside: SHIB trades below key moving averages, successive higher-timeframe crosses increase the signal’s weight, and failure to hold $0.0000060 would likely open a path to $0.0000057 and then $0.0000050. For traders, this suggests higher probability of short-term bearish setups (shorts, tightened long stops, or reduced exposure) unless accompanied by rising volume and a close back above moving averages that confirms a momentum shift. Macro risk sentiment and volume spikes could produce transient rallies, but given the lagging nature of the death cross, further confirmation (price action and volume) is needed before a bullish view is warranted.