SHIB Slides Below Ichimoku Cloud Amid Heavy Overnight Selling Volume
Shiba Inu (SHIB) came under intense selling pressure overnight, slipping below the critical Ichimoku Cloud level, which signals potential bearish momentum in the near term.
After peaking at 0.00001307, SHIB reversed sharply, dipping to around 0.00001274 in early Monday trading. The failure to hold above the cloud points to ongoing weakness and cautious market sentiment.
Key points from recent price action:
- A strong selling surge capped the token’s gains late Sunday.
- Support emerged near 0.00001275, preventing a sharper decline.
- A brief recovery attempt toward 0.00001293 was quickly sold off.
- Lower trading volume later in the session suggests possible sideways movement ahead.
Analysts say SHIB will need to break back above the Ichimoku Cloud to regain bullish momentum, while continued trading beneath it could signal further downside risks.
