Shiba Inu has been on a downward trading trend in the last 24 hours, with its price action still trapped within a small intraday range. As of observation, SHIB traded at $0.58387, marking a negative change of 1.2 percent per day. Even after the pullback, trading information indicated SHIB halting near instant technical provisions. The short-term trends were monitored closely by market participants, with the price floating along support levels and larger market expectations circulating around longer-scope projections.
SHIB Price Action Holds Near Key Intraday Levels
It is worth mentioning that SHIB was trading within the set support at $0.058354 and resistance at $0.058587 throughout the session. Most of the period, price action remained near the lower boundary. Nonetheless, sellers did not force the token to climb significantly below the support.
The narrow range indicated low volatility, with buyers and sellers being at equilibrium. With the continued development of trading, price was limited, which strengthened the role of these near-term levels in short-term positioning.
Technical Indicators Show Subdued Momentum and Limited Trend Strength
It is important to mention that the Relative Strength Index was trading at 40.59, meaning SHIB was at the neutral midpoint. This was an indication of low-level motion and not extreme conditions. Nevertheless, the RSI did not reach oversold levels but indicated that selling pressure was kept in check. The fact that the price was within a sideways range and the RSI was fluctuating in a small range serves to support the absence of a strong directional force. This indicator was consistent with the tight trading range that was observed.
Meanwhile, the MACD histogram remained in negative territory, reflecting limited bullish momentum. The MACD and signal lines tracked closely, highlighting reduced trend strength. However, histogram bars showed modest size, suggesting selling pressure lacked intensity.
Market Context and Forward Price References
On the same note, fundamentally, further market deliberations still cited higher price expectations of SHIB in the long term. There is market commentary projecting a shift to $0.01 in 2026 by various crypto analysts publicly. Nonetheless, the present price action was still pegged at short-term technical values.
The short-term setup remained characterized by the support of $0.058354 and the resistance of $0.058587. Consequently, short-term trading was still based on range behavior, whereas long-term outlooks were independent of the current price movement.
In parallel, market cap data showed SHIB fluctuating modestly, aligning with the subdued price movement. This alignment reinforced the narrow trading environment observed during the session. Consequently, SHIB’s market activity reflected controlled conditions, where defined levels guided price behavior and framed both short-term monitoring and longer-term reference points.