BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Shiba Inu Faces Selling Pressure as Price Tests Key Support Levels

by Matoy
December 2, 2024
in CRYPTO
Reading Time: 2 mins read
A A
11
SHARES
180
VIEWS
Share on XShare in TelegramShare on Reddit
  • Shiba Inu (SHIB) shows signs of bearish momentum, losing ground after testing resistance near $0.00003100.
  • Trading volume remains stable but indicates an increase in sell-side activity as prices retest the $0.00002850 support zone.
  • Technical indicators suggest further downside risk unless SHIB holds critical support levels in the short term.

Shiba Inu (SHIB) experienced notable volatility over the past 24 hours, with the cryptocurrency struggling to sustain its gains above the $0.00003100 mark. Following an early push higher, SHIB faced selling pressure that drove its price toward $0.00002850, testing key support levels. The decline highlights growing uncertainty about whether buyers can defend against further downside.

Support and Resistance Levels in Focus

According to TradingView‘s recent data, SHIB’s recent price action has been characterized by its inability to break above the $0.00003100 resistance zone, which has held firm over the past week. The $0.00002850 level has now emerged as critical support, with multiple retests indicating heightened activity from traders at this range. A breakdown below this threshold could expose SHIB to deeper losses, potentially targeting $0.00002750 or lower in the near term.

Conversely, a rebound from the current support could pave the way for another attempt to breach $0.00003100. Analysts suggest that a close above this level could signal renewed bullish momentum, targeting higher resistance near $0.00003300.

Technical Indicators and Market Sentiment

Market sentiment around SHIB appears mixed, as trading volume remains steady but leans toward increased sell-side activity. Momentum indicators, including the Relative Strength Index (RSI), are trending downward, signaling bearish momentum. The RSI hovers near oversold territory, which could prompt a short-term bounce if buyers regain control.

The Moving Average Convergence Divergence (MACD) shows a bearish crossover, suggesting that momentum is shifting in favor of sellers. Additionally, the 50-day Exponential Moving Average (EMA) is trending below the 200-day EMA, reinforcing a bearish outlook.

TradingView

Outlook for SHIB

Shiba Inu’s price action over the coming days will likely depend on its ability to hold the $0.00002850 support zone. A sustained defense at this level could attract buyers looking for a potential recovery, while a breakdown may lead to extended losses. Traders are advised to monitor key resistance and support levels closely as the market reacts to prevailing bearish sentiment.

Tags: Shib
Tweet3ShareShare
Previous Post

Solana Consolidates Below Key Resistance as Traders Watch for Next Move

Next Post

XRP Surges Past $2 as WisdomTree Files for Spot XRP ETF

DON'T MISS THESE! HOT OFF THE PRESS

Is Polkadot Dead or Just Getting Started?
CRYPTO

Is Polkadot Dead or Just Getting Started?

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance
CRYPTO

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing
CRYPTO

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself
CRYPTO

Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

July 18, 2025
Clarity Act Passes House: Cardano Eyes Commodity Status as New Crypto Rules Take Shape
CARDANO

Clarity Act Passes House: Cardano Eyes Commodity Status as New Crypto Rules Take Shape

July 18, 2025
$10 Trillion Asset Manager Charles Schwab Confirms Bitcoin and Ethereum Trading: Here is Why This is Bullish
BITCOIN

$10 Trillion Asset Manager Charles Schwab Confirms Bitcoin and Ethereum Trading: Here is Why This is Bullish

July 18, 2025
Load More

Related News

Is Polkadot Dead or Just Getting Started?

Is Polkadot Dead or Just Getting Started?

July 18, 2025
President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

July 18, 2025
Clarity Act Passes House: Cardano Eyes Commodity Status as New Crypto Rules Take Shape

Clarity Act Passes House: Cardano Eyes Commodity Status as New Crypto Rules Take Shape

July 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin US Web3 X xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.