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SHIB A pullback to US$0.000004 support level may pave the way for a new round of bullish momentum.
A downward wedge pattern and a reset Stochastic RSI may boost the rally. Despite the recent sell-off, the number of long-term holders of Shiba Inu Coin (SHIB) has reached a record high, showing greater confidence in holding positions.
Shiba Inu has given up most of the gains it broke through in July and August, and its price is currently fluctuating around US$0.00000451. The correction triggered a new round of market discussions on the future direction of the token. However, bulls can still look for opportunities from multiple technical signals. At the same time, despite recent weakness, long-term holders continue to add to their positions. This comparison provides traders with noteworthy layout opportunities. If buyers can quickly regain the initiative, the price is expected to rise back to US$0.0000509.
SHIB faces a comprehensive technical reset
After losing upward momentum, the SHIB fell back to the 0.236 Fibonacci support area. The token previously broke through the downtrend line in late July, but the selling quickly erased most of the breakthrough. SHIB prices are currently below the previous trend line and nearby support levels are being tested. Moving averages show bulls face serious challenges: All four major index moving averages (EMA) are above current prices. The 20th EMA is near US$0.0000460, and the 50th EMA is close to US$0.0000463, which together constitutes a direct resistance area. After breaking through these levels, SHIB will face stronger resistance-the 100th EMA is around US$0.0000493 and the 200th EMA is even higher, close to US$0.0000582. The Supertrend indicator is currently near $0.0000509 and still shows a bearish trend. However, there are multiple signals that selling pressure may weaken.
According to LuckSide Crypto analysis, the Stochastic Relative Strength Indicator (Stocking RSI) has been reset to zero. After a period of strong selling, such readings often signal a possible recovery. If a random RSI gold cross signal appears, this judgment will be further enhanced. In addition, the SHIB daily chart has formed a downward wedge pattern that will approach the end of convergence later this week. Traders often focus on such patterns to catch breakthroughs. If prices break through the upper wedge track, the short-term outlook is expected to improve.
Long-term holders continue to increase positions
Holder data provides another reason for SHIB's optimistic outlook. The LuckSide Crypto report shows that the number of long-term SHIB holders has reached a historical peak. The number of wallet addresses holding tokens for more than a year hit a new high. Multiple long-term holding groups have expanded simultaneously, including those holding addresses for 1 to 2 years and those holding addresses for 2 to 3 years. Similar growth was also seen among veteran holders who had held it for 5 to 7 years. This behavior shows that investors are more willing to hold positions and have more confidence in holding positions in the long run. LuckSide compared the current model with SHIB's market structure in 2022, pointing out that long-term accumulation at that time laid the foundation for subsequent recovery. The recent sell-off has mainly come from a single giant whale wallet.
Short-term accumulation also returns as long-term participation increases. For SHIB, the next step is highly dependent on key price levels. Bulls need to recover $0.0000460 and $0.0000463 first. If it can exceed US$0.0000493, it may open the way to move towards US$0.0000509. On the contrary, if it loses US$0.000004, SHIB will face a deeper correction. The current technical reset does not guarantee a rebound, but the compressed state of technical indicators provides conditions for a market turn.
