• Shiba Inu prices now stand at 0.00001181, increasing by 2.1% in 24 hours and Bitcoin and Ethereum pairs also highly gaining.
• The near-term trading range has been tight because of the price consolidating between support and resistance levels of 0.00001154 and 0.00001198 respectively.
• RSI of 45.87 and mixed MACD values indicate neutral momentum which makes the market still in the consolidation stage.

Shiba Inu (SHIB) remained an average performer in the last session and was trading at $0.00001181 after an increase of 2.1 percent over 24 hours. The token rose by 1.6, which is equivalent to 0.091079 BTC, and by 1.0% to 0.082944 ETH, compared to Bitcoin and Ethereum respectively. The centres of market activity in the short run trading decision are the midpoint support of 0.00001154 and the resistance of 0.00001198.

Price Range and Support Levels

The trading range is not wide and the price action is between the support of $0.00001154 and the resistance of $0.00001198. The bottom border offers near term position support and the top edge includes instant upside. Interestingly, in the recent sessions, the price dropped as far as the lower support and then improved confirming the zone.

The 24-hour range indicates that a market is consolidating within fixed parameters. The volume is still drawn to the support levels with players playing in the confined space. Traders however, are also worried of any decisive action beyond this channel as it can determine the direction in future sessions.

Technical Indicators Show Neutral Momentum

Technical indicators currently suggest a balanced market outlook. The Relative Strength Index (RSI) stands at 45.87, while the signal line reads 52.73. This places the token in a neutral zone, showing neither overbought nor oversold conditions. Market participants interpret this as a range-bound phase, awaiting stronger directional cues.

Source:TradingView

In the meantime, Moving Average Convergence Divergence (MACD) is mixed. The indicator points out -6.76 million on the negative side, +3.74 million and +10.5 million on positive sides. We can note that these values highlight the fact that there is varying momentum, which is in line with the consolidation that is being realized in the price range.

Market Structure and Short-Term Outlook

Shiba Inu is still trading around a downward trendline that can be seen over the wider time scale. The trendline resistance has held a number of rallies leaving the token to trade within an even narrow structure. The chart shows that there are several rejections at this level which makes it a very important barrier.

The price action has also recorded repetitive rebounds to the same support area, which depicts that the base is still intact. This brings about a situation where support as well as trendline resistance outlines the immediate structure. 

The market is currently in the middle of this arrangement with the short-term focus being fixed on the strength of the support at $0.00001154.As Shiba Inu trades at $0.00001181, the narrow resistance at $0.00001198 remains the next immediate threshold to monitor. Price direction continues to depend on how these levels interact in upcoming sessions.