{"id":170689,"date":"2026-05-26T13:30:16","date_gmt":"2026-05-26T13:30:16","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=170689"},"modified":"2026-05-26T13:30:16","modified_gmt":"2026-05-26T13:30:16","slug":"bearish-pressure-on-shiba-inu-may-be-nearing-completion-weekly-chart-suggests","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=170689","title":{"rendered":"Bearish Pressure On Shiba Inu May Be Nearing Completion, Weekly Chart Suggests"},"content":{"rendered":"

Open interest in Shiba Inu climbed 2.1% over the past 24 hours even as spot trading volume fell 18%, sending conflicting signals about where the token is headed next.<\/p>\n

What The Chart Is Showing<\/h2>\n

SHIB<\/a> is currently trading around $0.0000056, near its historic lows, after dropping 10% in the past seven days.<\/p>\n

That decline brought the token back down to a key support zone around $0.0000055 \u2014 a level that has cushioned price drops since the coin\u2019s early days in 2021.<\/p>\n

Despite repeated tests, sellers have not managed to push the price into a sustained breakdown below that area.<\/p>\n

The broader chart structure is a contracting descending triangle that has kept a lid on SHIB since its 2021 peak. Each time the token tried to recover, it ran into the triangle\u2019s falling upper resistance line and got turned back.<\/p>\n

That pattern has been in place for years, and it remains the dominant force on the weekly chart.<\/p>\n\n

A Wave Pattern Points To A Possible Turning Point<\/h2>\n

Analyst Aurex Finance, writing on TradingView, outlined<\/a> a completed three-wave corrective structure that may signal the end of SHIB\u2019s long decline.<\/p>\n

The first wave took the price from a March 2024 high of $0.000045 down to $0.000010 by August 2024. A partial recovery followed, lifting SHIB to $0.000033 in December 2024, before a third wave pushed prices back toward the lower edge of the triangle, where they sit now.<\/p>\n

According to the analysis, the three-wave decline appears to have ended right on top of a long-term support zone, creating what technical analysts call a confluence.<\/p>\n

That overlap between the wave completion and the support level is what leads Aurex Finance<\/a> to suggest the multi-year correction could be in its final stretch.<\/p>\n

Two Levels Bulls Need To Clear<\/p>\n

Reports from the analysis indicate that any recovery attempt will face two clear hurdles. The first is the falling resistance trendline sitting near $0.000011. The second is the previous recovery high from late 2024, around $0.000033.<\/p>\n

Breaking above both levels would represent a meaningful shift in market structure and hand momentum back to buyers.<\/p>\n

Until that happens, the long-term picture stays technically weak. The triangle has been compressing price action for so long that a breakout \u2014 in either direction \u2014 could produce a sharp move once it finally comes.<\/p>\n

Featured image from San Diego Zoo, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Open interest in Shiba Inu climbed 2.1% over the past 24 hours even as spot trading volume fell 18%, sending conflicting signals about where the token is headed next. What The Chart Is Showing SHIB is currently trading around $0.0000056, near its historic lows, after dropping 10% in the past seven days. That decline brought […]<\/p>\n","protected":false},"author":0,"featured_media":170690,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-170689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/170689"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=170689"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/170689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/170690"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=170689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=170689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=170689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}