SHIB Death Cross dey test $0.0000060 support — Sellers still dey press
Shiba Inu (SHIB) don face renewed selling pressure after dem death crosses show for lower timeframes. The 1-hour death cross show on Feb 19, den confirmed 2-hour death cross show on Feb 23 when the 200-period moving average cross above the 50-period MA. The technical signals coincide wit sharp 4.2% fall in 2 hours wey push SHIB go di $0.0000060 support zone, small bounce to $0.00000614, and now e dey trade near $0.00000592. Key short-term support dey for $0.0000060; if e no hold fit make price drop go $0.0000057 and maybe $0.0000050. Potential resistance for any bounce dey $0.0000066, $0.0000072 and $0.0000078. Because SHIB dey under most major moving averages, sustained rallies no go likely without clear breakout. Traders make dem treat death cross as lagging but plenty people dey watch am as sign of weak momentum, monitor $0.0000060 support and watch for on-chain or market-wide catalysts to confirm direction. This information na for market participants and no be financial advice.
Bearish
Di develọpment wey dem get as death crosses for di 1-hour an 2-hour charts, plus sharp short-term drop of 4.2% an SHIB dey trade under main moving averages, dey show say momentum dey weak an downside risk don increase. Short-term technical structure na bearish: immediate support for $0.0000060 na di key level — if e break, e fit quicken selling go $0.0000057 an $0.0000050. Resistance levels for any rebound (about $0.0000066–$0.0000078) far compared to di current price an dem dey below major MAs, so sustained rallies no likely without clear breakout plus better volume or positive on-chain signals. For traders, dis mean higher chance for short or sell-side setups on failed bounces an make sure risk management tight around di $0.0000060 support. For long term, unless SHIB reclaim an hold above larger moving averages an show renewed buying volume, di bearish signal fit carry go higher timeframes, strengthen di downtrend bias.