• Shiba Inu is at the moment trading at a cost of $0.00001221, down by 6.4 per cent in the previous week but still standing at $0.00001192 support.
• The resistance to the upward momentum is at a price of $0.00001227 and SHIB is in the narrow range of the consolidation.
• The values of cross-markets show that SHIB possesses 0.091081 BTC and $0.082915 ETH change per week, a relatively minor modification.

Shiba Inu has maintained major support levels in the midst of a weekly decline, representing major technical levels that determine its short-term trend. The token is currently at $0.00001221, which is down 6.4% over the past seven days. Market focus remains on the support level at $0.00001192, and resistance comes at $0.00001227. These are crucial to the near-term range.

Last week, SHIB saw massive selling pressure that reduced its value by more than six percent. This has not changed, yet the token has managed to stay above $0.00001192, which has been serving as very good support. This level has provided stability in the face of underlying weakness and has acted as a benchmark for players who are monitoring downside risk.

Resistance and Market Range

While support remains intact, SHIB continues to test resistance at $0.00001227. This price marks the upper boundary of the current daily range. The market has repeatedly met selling activity around this level, preventing a sustained move higher. 

Notably, the narrow gap between support and resistance shows the market is consolidating within a tight band. This situation leaves traders watching for any break beyond the short-term range.

SHIB Holds Steady Within Defined Support and Resistance Range

SHIB has a value of 0.091081 BTC in trading pairs, which changed by 0.8% and 0.082915 ETH with a change of 0.6%. The numbers indicate cross market relative performance as they underline the current positioning in major cryptocurrencies. 

It is worth mentioning that SHIB has a 24-hour range that is in line with the identified levels of support and resistance, which supports the emphasis on the points.The general market structure focuses more on stability rather than support, whereas resistance is an obstacle in the short term. The individual levels that have been tested still determine the immediate direction of the token. 

Shiba Inu has a strong-holding position above the mark of $0.00001192 and the resistance at the market is at $0.00001227. Within this narrow range, market stability relies on swings that determine the direction of the market over the short term and determine the trading momentum ahead.