Saad Ullah
Shiba Inu (SHIB) recent decline has brought the price back into a historically strong support range around 0.00001180–0.00001220. Despite the pullback, bulls are defending this level, keeping the possibility of a sharp recovery alive.
Chart Analysis: Technical Factors at Play
According to SHIB Mortal, the price structure remains favorable for a bullish reversal, as long as the support zone holds.
The daily chart reveals several important technical elements that traders should watch closely. Price is stabilizing in the 0.00001180–0.00001220 range, which has consistently acted as a demand area where buyers step in. A descending resistance trendline caps SHIB near 0.00001350–0.00001400, forming the next breakout level to watch. The chart also shows what appears to be a rounded bottom formation, suggesting a possible bullish reversal pattern is developing. If bulls can push through resistance, SHIB could target the 0.00001750–0.00001800 zone, while failure to hold current support risks a decline toward 0.00001050.
Market Dynamics Supporting a Potential Rebound
Shiba Inu remains one of the most actively watched meme-coins, with rising on-chain activity and growing attention to Shibarium developments. Market sentiment around altcoins has been improving recently, which increases the chances of a rebound from this accumulation zone. The combination of technical support and improving market conditions creates an interesting setup for potential upside movement.
What's Next for SHIB
SHIB finds itself at a decisive point where the next few trading sessions could determine its near-term direction. If the current support holds firm, a bullish reversal could trigger a rally toward higher resistance zones. However, traders should remain cautious as a break below support would open the door for further downside. The key is watching how price action develops around these critical levels in the coming days.
Saad Ullah
