The price movement of Shiba Inu over the past few days, to be honest, has been a bit unexpected.

The price is hovering around $0.00000885 and hasn't actually broken below that level. More importantly, since November 23, that small upward channel has maintained its complete form, which is rare after several weeks of decline. At the very least, this indicates one thing: market sentiment is beginning to stabilize, and panic selling has come to a halt. The current question is whether the bulls have the ability to push the price up.

Of course, looking at a longer period, it's not so optimistic.

The downward trend line that started in March is now around $0.00001192, and SHIB has been pushed back every time it approaches this level. Moreover, look at those moving averages—the 20-day, 50-day, 100-day, and 200-day—all stacked above the price, creating resistance. The parabolic turn indicator is also still at the top, and the overall technical outlook is bearish. Want to break through this layer of resistance? It’s indeed quite challenging.

However, I noticed some details.

The range from 0.00000820 to 0.00000850 has been maintained several times from September until now, indicating that there is real buying power here. There's also an interesting piece of data: the recent outflow of spot has only been a few tens of thousands of dollars per day, which is completely on a different level compared to the previous pressure of several million dollars. What does this mean? It doesn't mean that someone is frantically bottom fishing, but rather that the selling pressure has dried up. The market may be entering a low-volatility consolidation period.

My judgment is as follows: In the short term, it may continue to linger at the bottom, and there might even be a chance to rebound and test the resistance level around 0.00001 USD. However, to say that there will be a complete reversal, the prerequisite is that it must break through the key resistance at 0.00001192 with significant volume. Frankly speaking, the probability of achieving this in the short term is not high.

Don't rush to chase the price in trading; wait for the price to return to the support zone before considering. Make sure to set your stop-loss properly. This kind of market tests your patience the most, just take your time and observe.

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