Shiba Inu price continued to slide on Tuesday, holding just above a critical support zone after failing to reclaim key resistance levels. The token lost over 3 percent in the last 48 hours, now trading around $0.00001310 as sellers maintain control.
Price weakness followed a clear rejection near the $0.00001480 to $0.00001500 range, which coincided with the 38.2 percent Fibonacci retracement of the April rally. That rejection triggered a gradual decline toward the 61.8 percent retracement zone, where SHIB is now showing limited signs of a rebound.
Source: Tradingview
Current price action reflects growing uncertainty, with consolidation tightening between falling trend resistance and a softening support base near $0.00001260. The broader descending triangle pattern that began after the May 29 peak near $0.00001590 continues to shape SHIB’s technical outlook.
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Shiba Inu Struggles to Hold Support as Bearish Signals Strengthen
Momentum indicators are tilting further bearish, as the Relative Strength Index on the 30-minute chart has dropped to 45, showing reduced buying pressure after a failed breakout. The Stochastic RSI has fallen into oversold territory, signaling potential exhaustion but lacking enough volume to confirm reversal strength.
The 4-hour MACD indicator shows a bearish crossover below the signal line, with growing red histogram bars suggesting negative momentum is building. As a result of these two trends, there is a greater chance of quick volatility.
Source: Tradingview
The asset’s price is close to the midline of the Bollinger range, and a notable drop beneath the present level might cause SHIB to retreat toward the lower limit at $0.00001245 or even to $0.00001238. It sits near the previous trendline support that was found in late May.
According to the Ichimoku Cloud on the 30-minute chart, conditions suggest that bears are in control. The conversion line has now moved under the baseline, and SHIB is close to resistance at nearly $0.00001300. In this case, further drops to $0.00001290, and further than that can be rapid.
Source: Tradingview
If the bulls regain strength and go above the $0.00001344 to $0.00001385 resistance range, the Shiba Inu will rise. If price movement goes below $0.00001396, this will confirm the start of a stronger trend shift.
Shiba Inu is still under threat as it nears significant support. If bulls do not drive prices above resistance, a fall to $0.00001300 is possible, and attention might turn to the $0.00001238 demand zone.
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