SHIB Price Faces Potential Decline After False Breakouts Near Key Resistance Levels

Key Points

1. SHIB/USD pair declined by 3.89% over the past 24 hours, with a false breakout above the $0.00001375 resistance level failing to sustain.

2. Technical indicators suggest SHIB may retest the $0.000012 support level, with a critical support zone near $0.00001282.

3. Midterm outlook shows SHIB could face an extended correction, with potential downside targets between $0.000011 and $0.000012.

4. Bearish trend in SHIB aligns with broader crypto market weakness, influenced by profit-taking and risk-off behavior.

5. Near-term trajectory appears bearish, with key support levels and candlestick patterns indicating further downside risks.