The post SHIB Price Faces Technical Pressure Despite 5th Anniversary Milestone appeared on BitcoinEthereumNews.com.

Alvin Lang
Aug 03, 2025 07:45

Shiba Inu trades near lower Bollinger Band support with RSI at 37.85, while celebrating its 5th anniversary amid consolidation around key resistance levels.

Quick Take • SHIB currently trading with -0.82% decline in 24h trading session • Shiba Inu’s RSI at 37.85 signals potential oversold conditions developing • Token celebrates 5th anniversary milestone while facing technical consolidation What’s Driving Shiba Inu Price Today? The SHIB price action reflects a complex interplay between celebration and technical resistance. Shiba Inu recently marked its 5th anniversary on August 1st, celebrating significant community growth since its 2020 launch. However, this positive milestone hasn’t translated into immediate price momentum. More pressing for traders is the recent encounter with strong resistance at $0.000016, as reported on July 31st. This resistance level has created a consolidation phase that continues to influence SHIB price movements. The token previously gained 12% over the past month, trading around $0.00001299, but this rally appears to have stalled at critical technical levels. Market participants are particularly focused on the resistance zone between $0.000014 and $0.000019, where significant sell pressure has emerged from holders seeking to break even on previous positions. This dynamic explains the current sideways price action despite the anniversary celebrations. SHIB Technical Analysis: Bearish Signals Emerge The Shiba Inu technical analysis reveals concerning momentum indicators that traders should monitor closely. Shiba Inu’s RSI currently sits at 37.85, approaching oversold territory and suggesting potential downward pressure continues to build. The SHIB MACD presents a bearish picture with the histogram showing negative momentum. This indicator suggests that selling pressure may persist in the near term, aligning with the resistance challenges the token has faced. Particularly noteworthy is SHIB’s position within the Bollinger Bands. The %B reading of 0.1095…

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Filed under: News - @ August 3, 2025 4:24 pm