Peter Smith
⬤ Shiba Inu (SHIB) now faces a short term ceiling at $0.000009055; only a close above this level opens the way to $0.00001. Weeks of sideways movement have traders watching to see if fresh buying appears. The token has posted only small day-to-day changes lately.
⬤ On the daily chart SHIB oscillates near the mid line of the Bollinger Bands and remains under the upper line that coincides with $0.000009055. The last sessions show a sequence of minor up- and down-days as the coin tries to erase earlier losses. The MACD rests just above zero and its lines edge upward, a tentative sign of improvement rather than a confirmed reversal.
⬤ Momentum has stayed subdued - multiple lift attempts have stalled near the same mid range zone. A march to $0.00001 demands stronger follow through - yet the chart shows the market is alert for any renewed buying that could trigger the next leg higher.
⬤ Compressed ranges turn levels like $0.000009055 into short term decision points. When a memecoin like SHIB trades just beneath such a mark, the outcome at that mark colours wider mood. A decisive break would add fuel toward higher targets - a rejection would prolong the present wait for clearer direction.
Peter Smith
