Key Insights
- Shiba Inu trades below all major moving averages, reinforcing a bearish technical outlook.
- Spot outflows exceeding $100,000 indicate continued distribution pressure and weak buyer participation.
- A breakout above $0.00000990 is required for a trend reversal toward higher resistance levels.
Shiba Inu continues to trade around $0.00000973, maintaining a defensive tone as repeated efforts to break above its moving averages fail. The token remains constrained under a persistent descending trendline that has capped every upward attempt since January, signaling sustained seller control across the market.
On the daily chart, Shiba Inu stays below all major exponential moving averages. The 20-day and 50-day EMAs sit near $0.00001068 and $0.00001069, while the 100-day and 200-day levels hold at $0.00001149 and $0.00001259, respectively. This tight cluster of resistance reinforces a bearish setup. The Supertrend indicator also remains negative, confirming that downward pressure has not eased.
Market Sentiment Remains Bearish
Data from Coinglass reveals continued spot outflows, highlighting the lack of buying conviction among traders. On November 9, approximately $100,410 in net outflows moved from wallets to exchanges, reflecting potential distribution rather than accumulation. Consistent red flow readings have dominated recent months, showing weak demand and sustained profit-taking behavior.
Lower timeframe analysis indicates Shiba Inu is moving within a descending channel. Although the token is attempting to stabilize near the channel’s midpoint, buyers remain hesitant. The Parabolic SAR continues to print above the price, indicating that the downtrend remains intact. The relative strength index on the 30-minute chart rests near 42, showing subdued buying momentum and mild oversold conditions.
Key Levels to Watch in the Coming Sessions
For any near-term recovery, Shiba Inu must reclaim $0.00000990, the upper channel boundary and immediate resistance. A sustained move above this point, followed by a close over the 20-day EMA, could shift sentiment toward recovery targets at $0.00001250 and $0.00001400. Failure to hold above $0.00000930, however, could open the path to $0.00000880, extending the ongoing downtrend.
Shiba Inu remains under seller control as technical indicators and on-chain signals align with persistent weakness. Until the price breaks its descending structure with volume, buyers are expected to stay cautious while rallies continue to face resistance.
