Shiba Inu (SHIB) continues to weaken as the price falls below the psychological level of $0.00001000, marking its fourth consecutive red daily candle. Selling pressure is pushing the market back toward the Pivot Point S1 at $0.00000879 — a zone that previously acted as strong support during last week’s rebound.
If the price closes below this level, the short-term downtrend may strengthen, opening the door for a deeper pullback toward Pivot Point S2 around $0.00000759 — considered the “last line of defense” for buyers at this stage. A breakdown below S2 could trigger additional downside momentum, dragging SHIB back to its earlier quarterly lows.
From a technical perspective, indicators are showing a notable divergence: the RSI sits at 39 and is forming a potential bullish divergence, hinting that buyers may be quietly accumulating. However, the MACD is nearing a bearish cross, reflecting that selling momentum still dominates. This contrast makes SHIB’s short-term outlook more uncertain.
In a more positive scenario, if SHIB rebounds from the $0.00000759 zone, new buying demand may emerge, allowing the price to retest the $0.00001000 resistance level. A successful breakout and sustained move above this zone would signal an early reversal and open the path for a more solid recovery in the coming sessions.
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