The SHIB/USD pair is experiencing continued bearish pressure, declining approximately 1.3% over the last 24 hours. Bears currently dominate the market sentiment, pushing the price towards crucial technical levels.
The price is testing a key support zone near $0.00001195. Resistance remains firm around the $0.00001227 area, limiting upside momentum.
Notably low trading volume appears to be restricting price volatility. This subdued activity maintains SHIB in a relatively range-bound pattern.
Technical analysis suggests a breach below the crucial $0.00001195 support could trigger a deeper correction phase. Such a breakdown might pave the way for a potential move down toward the $0.000010 psychological level.
Looking ahead, the midterm outlook points to a risk of growing bearish momentum if the current support fails to hold. Market participants are closely watching these key technical thresholds for directional cues.