Saad Ullah
Shiba Inu has been through the wringer lately. After getting crushed from its recent high near $0.00001800, SHIB looked like it might keep falling. But sometimes the crypto market surprises you - and that's exactly what happened when SHIB found its footing in a key support area.
SHIB Finds Support and Fights Back
After that nasty drop from $0.00001800, Shiba Inu (SHIB) finally caught a break in the $0.00001200-$0.00001230 zone. This area has been acting like a safety net on the daily charts, and it did its job once again. According to recent analysis on X, this demand zone sparked a decent bounce.
Right now, SHIB is trading around $0.00001271, which shows buyers actually stepped in near the bottom of that support zone. It's a good sign that bulls aren't ready to throw in the towel just yet.
SHIB Price Faces Tough Resistance Ahead
Here's where things get tricky. While the bounce looks nice, SHIB is heading straight into a major roadblock around $0.00001350. This used to be support, but now it's flipped to resistance - and that's usually bad news for price action.
Traders are warning that heavy selling could kick in once SHIB gets close to this level. Unless the meme coin can punch through $0.00001350 with real conviction, this rally might be short-lived. If it gets rejected there, we could see another test of that $0.00001200 support zone - or worse.
The bottom line? SHIB needs to prove it can reclaim higher ground. Until it breaks above $0.00001350, the bulls are still fighting an uphill battle.
Saad Ullah
