Shiba Inu Tests $0.0000067–$0.0000070 Resistance as Downtrend Persists
Shiba Inu (SHIB) is trading at $0.00000665 after a volatile session that saw intraday highs near $0.00000688 and lows around $0.0000044. SHIB’s 24-hour volume is $169.95M (spot $31.45M, futures $135.43M). Performance metrics point to a bearish trend: -3.4% in 24 hours, -8.9% over 7 days, -22.1% over 30 days and -58.8% year‑over‑year. Daily chart structure shows SHIB below resistance near $0.0000070, with immediate support around $0.00000630 (9-day SMA). A break below the SMA could target ~$0.0000051. The Stochastic Oscillator (K 72.89, D 76.78) sits just below overbought levels, signalling possible momentum loss; a bearish K/D crossover would favour a pullback. Analyst Ali Martinez identifies $0.0000067 as a key level — reclaiming it as support could open a move toward $0.0000099, while higher resistance zones sit at $0.0000148, $0.0000221 and $0.0000329. Traders should watch SMA support, the $0.0000067–$0.0000070 resistance zone, Stochastic cross signals, and spot vs futures volume — failure to hold the SMA risks deeper correction; reclaiming $0.0000067 would improve bullish odds. This report is informational and not financial advice.
Bearish
The article highlights persistent bearish signals for SHIB: negative short-, medium- and long-term returns, high futures volume relative to spot, and price pressure under the $0.0000070 resistance. Technicals show immediate support at the 9-day SMA ($0.00000630); a breakdown would likely accelerate selling toward $0.0000051. The Stochastic is near overbought and a potential K/D bearish crossover would confirm momentum loss. Historically, meme coins like SHIB tend to amplify moves when futures liquidity is high — large futures volume here increases downside risk through leveraged liquidation cascades. Conversely, reclaiming $0.0000067 as support would open targets around $0.0000099, but that requires clear bullish follow-through and volume shift to spot. Short-term implication: elevated risk of further downside or range-bound action under resistance; traders should manage risk, watch the SMA and stochastic crossover, and note funding/futures flow. Long-term implication: until multi-month downtrend metrics improve and higher timeframe resistance zones are convincingly broken with spot-driven volume, bullish recovery remains uncertain.