Shiba Inu (SHIB) at $0.00001284 Faces Resistance Near $0.00001294 as Sell Wall Emerges at $0.0000155
- Shiba Inu is trading at $0.00001284 on a heavy support area at $0.00001226 and a fundamental offer wall building around 0.0000155.
- Consistent rebounding off of the 0.00001226 level reflects steady purchasing interest and solidifies this level as a structural support.
- There is now a large sell wall at the level of 0.0000155 and this will provide the next large test zone should momentum persistently accumulate.
Shiba Inu (SHIB) is still in the limelight following a consistent 9.9% increase in the last seven days. The token is trading at $0.00001284 and is above its support level of $0.00001226 and its nearest resistance is at $0.00001294. The market is still contained in this small band, as there is increasing interest among the traders watching a possible shift outside the upper limit. The current range is also experiencing higher participation as seen in recent sessions.
Resistance Builds Ahead of Key Sell Wall
Price action indicates that Shiba Inu’s next notable sell wall is positioned at $0.0000155, marking a crucial level for short-term dynamics. Historically, price reactions near such zones tend to define the next directional phase. The 4-hour chart highlights multiple rejections near resistance, where sellers remain active. However, the recent uptick above intermediate levels shows that demand has been gradually building, especially following a series of higher lows since late September.
Support Strengthens as Buyers Maintain Control
The support zone of $0.00001226 is quite significant, as it has already been a drawback of repeated tests in the previous sessions. The market data reflects that the bids have been constantly aggregated in this region, which supports the area as a basis of short-term accumulation.
Strikingly, this defense has been maintained long enough to mitigate downside volatility and to maintain price momentum. Assuming that this level is not broken, traders can still observe the price-resistance interaction.
Narrow Trading Band Suggests Imminent Directional Move
Shiba Inu is about to hit the short-term all-time high at $0.00001294 that continues to limit the rise in price. The rise in trading volume shows that there is growing interest around these volumes, although the overall market is still wary.
Having shown resistance at around $0.0000155, any further action in excess of 0.00001294 may serve to attract attention to this higher zone. The prevailing structure shows that the participants are gearing up to make a decisive action after price is out of the compression level.
