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SHIB Shiba Inu attempts to extend its latest rally, but market dynamics raise questions about its long-term ability to rise
Although Shiba Inu (SHIB) has emerged from its August lows, current market dynamics raise doubts about its ability to maintain a long-term upward trend. Above the current price of SHIB, there are still some technical resistance levels.
Analysis of Price Trend and Support
In the past 24 hours, the price of the SHIB token has increased by approximately 3% and is currently trading at approximately $0.00000535. It is worth noting that SHIB is now firmly above the moving average cluster in the range of $0.0000500 to $0.0000507, which has been established as the main support area. The trend line that has climbed since the bottom of August also provides an important defensive position for bulls.
However, it is difficult for SHIB to maintain kinetic energy above $0.0000540. During the August rally, SHIB briefly touched $0.0000620, but huge selling pressure prevented the rally. A key long-term moving average creates resistance around $0.0000568, which constitutes a major obstacle before any potential retest of pre-highs.
Momentum and technical indicators
Momentum indicators are mixed. Although the SHIB remains above the neutral level of 50 on the daily relative strength index (RSI) and currently stands at around 57.6, this does not reflect strong bullish sentiment. Although the buyer has a technical advantage, current conditions do not support radical upward continuation.
Continued negative net spot flow from SHIB may indicate that tokens are leaving the exchange, which limits immediate selling pressure to some extent, but is too small relative to the overall market to serve as an independent bullish signal.
Spot flow and market activity
Spot flow presents more complexity. In the past eight hours, SHIB has experienced negative net spot flow of approximately US$271,000, and four-hour data also showed approximately US$210,000. This continued negative flow could suggest that coins are flowing out of exchanges, tightening the available supply.
Still, these outflows are still small compared to SHIB's US$3.16 billion market value and cannot independently verify the bullish outlook. Futures market activity also lacked a clear direction, with the number of open contracts on different platforms fluctuating significantly, with a total liquidation amount of approximately US$112,000 in 24 hours. These data highlight that the recovery of SHIB is still at a cautious stage and has not yet formed a clear bullish breakthrough.
Key price levels and market monitoring
Technical analysts are paying close attention to key price points. If we can exceed $0.00000568, it will consolidate the improved technical structure of SHIB; maintaining above $0.0000500 is crucial to maintaining current trends. If the price falls below $0.0000500, there is a risk of a correction to the $0.0000480 to $0.0000440 region, which will challenge existing upward momentum.
In an environment where central bank decisions or sudden listings of altcoins can instantly change the market landscape, effective monitoring of market movements is crucial. Modern traders are turning to integrated platforms that put privacy protection as the primary principle. By integrating real-time charts, smart price warnings, currency-specific news, and macroeconomic data without registering, such tools simplify the decision-making process and help investors respond quickly.
