Shiba Inu Price Falls below Key Support, Eyes $0.000069
Shiba Inu (SHIB) has broken its range-low support, signaling a bearish trend. The price is now targeting $0.000069 as the next key level.
For months, SHIB traded within a stable range.Though, recent weakness has pushed the price below this support. This shift confirms bearish control and opens the door to lower targets.
Key technical points include:
- Loss of Range Support: Price has fallen below the long-standing range low.
- Next Downside Target: $0.000069 is the next key swing low.
- Failed Reclaim: Previous attempts to regain higher levels were unsuccessful.
SHIBUSDT (1D) Chart, Source: TradingView
Shiba InuS price structure has been bearish since breaking the range low. The next logical target is $0.000069, a previous swing low. This level is a key zone of historical liquidity, where demand could re-emerge if volume supports accumulation.
until SHIB reclaims the broken range low on a daily closing basis, the bias remains bearish. The lack of bullish volume further reinforces the probability of continued downside pressure.If $0.000069 fails to hold, the market could extend even lower.
Shiba Inu’s short-term outlook remains bearish while trading below the former range low.A continuation toward $0.000069 is the most probable scenario given the lack of recovery volume. If price stabilizes at this level with increasing demand, a short-term rebound could develop.
