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SHIB SHIB lost upward momentum after being rejected near the key resistance level of US$0.0000500. Increased exchange reserves and long liquidations have exacerbated short-term downside risks. Bulls must regain their 50-day moving average to regain their bullish momentum. Shiba Inu entered August with optimism after a strong rebound attracted new buying orders. Many traders had expected prices to move towards higher resistance again. However, the optimism quickly dissipated after the seller blocked the latest breakthrough attempt. Market sentiment shifted within days as multiple indicators showed technical weakness. Currently, prices are trading in key areas, and buyers must hold on to support. If it falls again, it may increase downward pressure and extend the current correction.
SHIB faces strong resistance, selling pressure returns to
Shiba Inu failed to hold the key resistance level of US$0.0000500. The buyer briefly pushed the price above that level, before the seller regained control. The failure of the breakthrough occurred near the 50-day moving average. This technical level strengthened resistance and prevented further gains. Recent daily charts have shown a series of lower highs. This pattern usually signals a weakening of bullish momentum. Buyers have lost control of short-term trends. Sellers 'confidence continues to grow after each failed rebound attempt. The broader chart also reflects intensifying weakness. SHIB fell below its rising 20-day moving average. The 50-day moving average continues to serve as a ceiling. The 100-day and 200-day moving averages are well above current price levels. These long-term resistance levels continue to support the overall bearish outlook. Momentum indicators also prompt caution. The Relative Strength Index (RSI) slipped to around 53 after exiting the overbought territory. Buying forces have weakened, but oversold conditions have not yet been reached. This reading leaves room for further declines before stronger bargain-hunting can emerge. Liquidation data tells a similar story. In the past 24 hours, the long liquidation amount was approximately US$176,000. The short clearing amount was less than US$13,000. This huge gap shows that leveraged bulls suffer the most losses after failing to break through. Such situations often undermine the confidence of short-term traders.
On-chain activity suggests caution still needs to be exercised
The data on the chain showed a mixed picture. Spot market funds flows remain positive over a shorter period. These inflows show that some investors continue to accumulate SHIB despite weakness. However, futures activity takes on a different picture. Negative futures flows indicate that leveraged traders have reduced their exposure and are waiting for a clearer signal. Exchange data also raised new concerns. Exchange reserves have increased slightly in the past 24 hours. Overall exchange inflows and net inflows also increased. More SHIBs are available on trading platforms, which could intensify selling pressure if holders decide to lock in profits. Technical support is now the focus. The first significant level is near the rising 20-day MA at around $0.0000465. A loss of this area would expose a recent breakout range of about $0.0000445. A break below this support could trigger more selling. A rebound is still possible, but buyers still face serious challenges. Bulls must regain their 50-day moving average to regain confidence. Stronger trading volume will also improve prospects. Until these conditions arise, sellers continue to have an advantage and bearish signals are difficult to ignore.
