Shiba Inu bulls have been struggling to shift the momentum in their favor as the price fell by over 8% in the last 24 hours and 10% over the last 7 days. An analysis from last week suggested a potential bounce towards the $0.000014-level from the $0.000012-support zone, but this did not materialize. The $0.0000125-level has now become a short-term resistance, indicating low bullish conviction and the possibility of further losses.
Despite the recent price drop, analysts see Q2 2025 as an ideal time to accumulate altcoins, suggesting that long-term Shiba Inu investors may want to consider buying more tokens during this consolidation period. While some near-term volatility is expected, traders are wondering whether this is a buying opportunity or if caution is warranted to avoid potential losses.
In the past week, Shiba Inu has been trading in a range between $0.000012 and $0.000013, with attempts by the RSI on the 4-hour chart to break above the neutral 50 level being unsuccessful. Recent efforts by SHIB bulls to shift the momentum bullishly have also been met with failure, with resistance at the mid-range levels of $0.0000125 and $0.0000124. The OBV has been on a sideways trend, indicating the continuation of the range formation with low trading volume.
Despite being at the short-term range low, a price bounce towards the highs may not be likely due to immediate resistance levels at $0.0000125. Traders are advised to wait for an increase in trading volume before considering buying. The liquidation heatmap of the past week suggests potential liquidity pockets to watch at $0.0000119, $0.0000118, and $0.0000125, indicating the possibility of further downside before a bounce towards the range highs.
Overall, while swing traders may consider going long on Shiba Inu, they must exercise caution and manage their risk carefully. It remains important to stay informed and stay updated on market trends and developments to make informed decisions. The information presented in this analysis is based solely on the writer’s opinion and should not be considered as financial, investment, trading, or other types of advice.
