Shiba Inu Price Approaches Critical Support Level of $0.00001272

Shiba Inu (SHIB) is facing pressure at the key support level of $0.00001272. Multiple attempts to recover higher levels have failed, resulting in increased selling activity.

Declining buying interest and bearish sentiment suggest a potential breakdown below $0.00001272.
A confirmed drop could lead to deeper corrections and increased volatility.
A rebound from this support may indicate a shift in momentum, giving buyers a chance to regain control.

Current Price Analysis

After a rise, SHIB encountered resistance, triggering renewed selling pressure that has pushed the price toward $0.00001272. The coin is trading below the 100-day Simple Moving Average (SMA), indicating seller dominance.

MACD signals increasing bearish momentum, with the MACD line below the signal line.
The histogram's expansion in the negative zone further confirms bearish sentiment.
A sustained trend below the 100-day SMA raises the risk of a breakdown below $0.00001272.

Support Levels

SHIB is testing critical support zones:

$0.00001272: A vital support level where buyers may try to intervene.
If SHIB closes below this level, the next support to watch is $0.00000847, which represents a stronger demand zone.
A bounce from either level could signify a recovery opportunity for SHIB.

Establishing strong support and reclaiming key moving averages are essential for a bullish reversal and to restore investor confidence.