Shiba Inu (SHIB) Price Prediction for August 11
Main Idea
The Shiba Inu (SHIB) price is currently facing bearish pressure, trading near $0.00001354 after a rejection at the $0.00001400 resistance zone, with key support levels being tested.
Key Points
1. SHIB price is down 1.3% in the past 24 hours, facing rejection at the $0.00001400 resistance zone.
2. The price is trading within a long-term descending triangle, with support around $0.00001180 and resistance from a downtrend line.
3. Bearish pressure is evident with a -$4.07M net outflow from SHIB spot and indicators like DMI showing short-term bearish control.
4. Key support levels to watch are EMA20 at $0.00001323 and EMA50 at $0.00001314, with a breakdown potentially accelerating losses toward $0.00001216.
5. Short-term outlook suggests elevated volatility, with potential upside to $0.00001456 if support holds, or further downside to $0.00001270 and $0.00001180 if support breaks.
Description
The Shiba Inu price today is trading near $0.00001354, down around 1.3% in the past 24 hours after facing rejection at the $0.00001400 resistance zone. This level aligns with a major supply block seen on the daily Smart Money Concepts chart, where previous rallies have been halted. Despite the pullback, SHIB remains above its recent swing low, but momentum indicators suggest a possible test of nearby support levels. What’s Happening With Shiba Inu’s Price? SHIBUSD price dynamics (Source: Trading...
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