{"id":44705,"date":"2026-05-26T13:30:16","date_gmt":"2026-05-26T13:30:16","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=44705"},"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:\/\/cryptomag.finance\/?p=44705","title":{"rendered":"Bearish Pressure On Shiba Inu May Be Nearing Completion, Weekly Chart Suggests"},"content":{"rendered":"<p>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<h2>What The Chart Is Showing<\/h2>\n<p><a href=\"https:\/\/www.coingecko.com\/en\/coins\/shiba-inu\" target=\"_blank\" rel=\"noopener nofollow\">SHIB<\/a> is currently trading around $0.0000056, near its historic lows, after dropping 10% in the past seven days.<\/p>\n<p>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<p>Despite repeated tests, sellers have not managed to push the price into a sustained breakdown below that area.<\/p>\n<p>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<p>That pattern has been in place for years, and it remains the dominant force on the weekly chart.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"aligncenter size-full wp-image-897686\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/05\/a_ce1b7d.png?resize=1024%2C582\" alt=\"\" width=\"1024\" height=\"582\" loading=\"lazy\" \/><\/p>\n<h2>A Wave Pattern Points To A Possible Turning Point<\/h2>\n<p>Analyst Aurex Finance, writing on TradingView, <a href=\"https:\/\/www.tradingview.com\/chart\/SHIBUSDT.P\/SPUlrkK8-SHIBUSDT-Weekly-Analysis-Contracting-Descending-Triangle-Ell\/\" target=\"_blank\" rel=\"noopener nofollow\">outlined<\/a> a completed three-wave corrective structure that may signal the end of SHIB\u2019s long decline.<\/p>\n<p>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<p><img decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/lLQLdSS3\/\" width=\"1814\" height=\"921\" loading=\"lazy\" \/><\/p>\n<p>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<p>That overlap between the wave completion and the support level is what leads <a href=\"https:\/\/aurexfinance.com\/\" target=\"_blank\" rel=\"noopener nofollow\">Aurex Finance<\/a> to suggest the multi-year correction could be in its final stretch.<\/p>\n<p>Two Levels Bulls Need To Clear<\/p>\n<p>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<p>Breaking above both levels would represent a meaningful shift in market structure and hand momentum back to buyers.<\/p>\n<p>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<p><em>Featured image from San Diego Zoo, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":44706,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[46],"tags":[],"class_list":["post-44705","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bearish Pressure On Shiba Inu May Be Nearing Completion, Weekly Chart Suggests - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=44705\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bearish Pressure On Shiba Inu May Be Nearing Completion, Weekly Chart Suggests - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"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. 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