• SHIB decreased by 7.1% to $0.00001330 after failing to break above the strong resistance level at $0.00001558. Price is now testing support at $0.00001328.
• The MACD is still negative, and the RSI further decreases. The two indicators indicate fading momentum and an increase in bearish pressure.
• Volume activity during sell-offs outpaces rallies, suggesting cautious sentiment as SHIB trades within a fragile short-term range.

Shiba Inu (SHIB) experienced a fresh decline in corrective pressure, declining 4.04% to reach $0.00001330 after being rejected at $0.00001558 resistance. The SHIB encounters opposition at the 0.00001558 level. The last 24-hour price performance included a high of 0.00001479 and a low of 0.00001308. SHIB is well above the large support of 0.00001328.

A move below this support could prompt a trajectory towards the $0.00001200 level. The pullback recently came after a recovery phase attempted to surge past mid-range resistance but weakened at barely $0.00001560.

In July’s final trading sessions, SHIB made a strong attempt to reclaim higher ground, briefly touching $0.00001558. But at this level, rejection triggered a swift backlash. Price has been squeezed between two important sources of resistance-$0.00001417 and $0.00001558, and immediate support is at level of $0.00001328. These levels are important in short-term momentum.

SHIB Stalls Below Resistance as Momentum Fades

Technical indicators indicate that the Relative Strength Index (RSI) is at 42.92 with a spill-term point reading of 34.82. This suggests weakening upward strength.  SHIB keeps making lower highs on the hourly chart, which is a common graphical observation when going through a consolidation cycle following a breakout failure. Upward continuation above both price sets can be capped until the price clears above $0.00001417 and closes above $0.00001558 due to current sell pressure.

Momentum indicators reflect the bearish move with notable clarity. The Moving Average Convergence Divergence (MACD) is currently negative. The MACD line reads -0.00000026 while the signal line sits slightly higher at -0.00000031. These values indicate increasing selling interest following the failed push above resistance.

SHIB Trades Near Support as Broader Weakness Persists Across Pairs

Volume remains moderate, yet shows more activity during sell-offs than rallies. The MACD histogram continues to trend in the red zone, adding to the downward bias. In addition, SHIB has declined by 7.1% over 24 hours. Against Bitcoin, the asset dropped 7.3%, while losses versus Ethereum reached 6.9%, confirming broader weakness across pairs.At the time of writing, SHIB trades little above the $0.00001328 mark, which comes close to the nearest significant support at $0.00001308. These precincts can identify short-term trends. When punctured, the price may change to $0.00001200. The short-term structure is still weak, the $0.00001479 resistance has yet to be overwhelmed with bullish close, nor has there been any bullish close immediately above the $0.00001417 area.