What to Know
- Shiba Inu has fallen below its 100 EMA near $0.00000528, weakening a crucial support level and reinforcing bearish market conditions.
- Technical indicators show persistent selling pressure, with RSI near 36 and multiple moving averages creating resistance above SHIB’s current price.
- SHIB faces support at $0.00000483 and $0.00000474, while reclaiming $0.00000528 could weaken the bearish outlook and support a potential recovery.
Shiba Inu (SHIB) has fallen below its 100-day exponential moving average, weakening a crucial support level as sellers push the token toward $0.00000496. According to TradingView chart data, SHIB declined from $0.00000509 to $0.00000483, breaking below the 100 EMA near $0.00000528 and establishing potential resistance.
Shiba Inu Loses 100 EMA as Selling Pressure Strengthens
Buyers defended the 100 EMA during pullbacks in late August and mid-September, supporting SHIB’s recovery toward $0.00000627 before momentum weakened. In early October, SHIB fell below the indicator and failed to reclaim it, reinforcing resistance near $0.00000528 during subsequent recovery attempts.
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Other moving averages remain above SHIB’s current price, with resistance near $0.00000540 and $0.00000545, while the 200 EMA stands around $0.00000562. Meanwhile, the Relative Strength Index stands near 36, reflecting persistent selling pressure, while modest trading volume suggests a gradual decline.
Source: TradingView
SHIB Faces Critical Support Test Near $0.00000474
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The immediate downside support stands at $0.00000483, matching the session’s reported low, while September’s support near $0.00000474 provides another potential buying zone. Further weakness could expose August’s support between $0.00000437 and $0.00000440, followed by the June and July lows around $0.00000405 to $0.00000410.
A decline toward these levels could erase much of SHIB’s three-month recovery, while a rebound from nearby support might provide temporary relief. Buyers must reclaim $0.00000500 before challenging the 100 EMA near $0.00000528, where a volume-supported daily close could weaken the bearish outlook.
Shiba Inu remains below key moving averages, with price movements around $0.00000483 and $0.00000474 determining whether selling pressure weakens or further declines emerge.
