SHIB Slides Below Ichimoku Cloud Amid High-Volume Resistance Test
Shiba Inu (SHIB), the second-largest meme coin by market cap, is showing signs of technical weakness after failing to break through key resistance, now trading decisively below the Ichimoku Cloud.
The asset faced intense selling pressure on Sunday, testing the 0.00001307 level before retreating to a low of 0.00001274. This move places SHIB in a bearish zone, as the Ichimoku Cloud — a widely used trend-following indicator — suggests downward momentum when price action remains beneath the cloud.
Developed in the 1960s, the Ichimoku Cloud helps traders visualize support, resistance, and trend shifts. In SHIB’s case, the current setup points to increasing downside risk unless the token can reclaim higher ground.
Macro Conditions Add Pressure
SHIB’s technical downturn comes as broader crypto markets grapple with mounting global economic uncertainty. Geopolitical risks and fluctuating trade policies have unsettled investors, dampening appetite across both traditional and digital assets.
Despite holding a newly defined higher range compared to earlier in the year, SHIB’s recovery attempts remain capped by persistent resistance and fragile sentiment.
Key Technical Developments:
- Resistance was firmly established at 0.00001307, where SHIB encountered sustained selling between 16:00 and 22:00 UTC on Sunday.
- Buyers stepped in near 0.00001275, forming short-term support amid above-average volume around 03:00 UTC.
- A brief rally early Monday pushed prices from 0.00001289 to 0.00001293 between 07:13 and 07:19, hinting at bullish intent.
- However, that momentum quickly reversed at 07:27, with SHIB slipping 1.2% to 0.00001283, confirming resistance just below the 0.000013 mark.
- The session closed with consolidation between 0.00001283 and 0.00001285 on declining volume, indicating a cooling of short-term volatility.
Unless SHIB reclaims levels above the Ichimoku Cloud, technical analysts caution that downside risks remain elevated heading into the week.
