- SHIB faces key resistance at $0.00001460, with $0.00001500 as the next breakout level.
- Market sentiment remains weak as RSI stays below neutral, signaling possible consolidation.
- March 2025 forecasts suggest a 9.46% decline, with SHIB averaging around $0.00001324.
Shiba Inu (SHIB) has gained traction in the market, showing a slight upward trend in the past 24 hours. However, despite this short-term gain, its weekly performance remains negative. The price currently sits at $0.00001457, reflecting a 2.44% increase in the last day. Market activity has weakened, as trading volume declined by 35.86% to $275.66 million.
The market capitalization stands at $8.58 billion, positioning SHIB among the top altcoins. As traders assess the current market conditions, key support and resistance levels could determine its next move.
Support and Resistance Levels Indicating Market Structure
The price has tested several key levels, which will be crucial for upcoming movements. The nearest support lies at $0.00001423, which represents the lowest point in the past 24 hours. If this level fails, SHIB may drop further to $0.00001400, a psychological support zone. A further decline could push prices toward $0.00001380, increasing bearish pressure.
Conversely, resistance is set at $0.00001460. A breakout above this level may encourage bullish momentum, pushing the price toward $0.00001500. This psychological barrier could determine whether SHIB continues upward or faces rejection.
Market Sentiment and Technical Indicators Suggest Consolidation
Despite the recent price increase, market sentiment remains uncertain. The RSI currently stands at 43.74, slightly below the neutral level of 50. This indicates weak momentum, with resistance at 45.33 preventing a strong breakout.
Additionally, the MACD indicator shows a slight bearish outlook. The MACD line at 0.00000052 remains below the signal line at 0.00000063, with a histogram of 0.00000011. While this suggests weak momentum, a bullish crossover could confirm an uptrend.
March 2025 Projection: A Potential Downtrend
Coincodex analysts predict that SHIB may experience a downturn in March 2025 after its recent February rally. The projected decline stands at -9.46%, with the price potentially reaching a high of $0.00001444 and a low of $0.00001207.
The average price is expected to hover around $0.00001324. This anticipated reversal suggests that the recent bullish movement may not sustain long-term growth. However, for short traders, the estimated return on investment of 17.46% presents an opportunity.
