The Shiba Inu price is currently consolidating around $0.00001490**, cooling off after a recent high near **$0.00001720. Following its strong breakout on May 9, SHIB has entered a descending triangle structure on the 4-hour chart, with sellers defending lower highs. The price is now hovering near a short-term support level of $0.00001460, a critical zone that could determine whether bulls regroup or bears take control.
What’s Happening with Shiba Inu’s Price?
On the 4-hour chart, Shiba Inu’s price action shows signs of weakening after facing resistance at the top trendline near $0.00001720. The price has retraced and is now at a potential decision point, caught between diagonal trendline resistance and horizontal support.
Volume has decreased, and the price structure has shifted from a bullish spike into a compression zone. This comes after SHIB briefly reclaimed its 0.236 Fibonacci retracement level ($0.00001475)** from the weekly swing high of **$0.00003344 down to the March low of $0.00001028. Despite reclaiming key territory in early May, SHIB is under pressure again, with rising volatility at lower timeframes.
Why Is Shiba Inu’s Price Dropping Today?
On the 30-minute chart, SHIB is trading within a narrow range between $0.00001480** and **$0.00001510. The RSI is currently at 45.52 and dropping, showing waning momentum below the neutral 50 level. The MACD is neutral, with histogram bars fading and signal lines converging, suggesting a lack of short-term bullish conviction.
Meanwhile, Bollinger Bands on the 4-hour chart are narrowing, a classic precursor to a volatility expansion. With the price touching the lower band near $0.00001447** and failing to recover above the median line (**$0.00001552), bears are slowly regaining influence.
From a broader view, the daily chart shows SHIB rejected from the upper supply zone ($0.00001650–$0.00001750) and now testing the lower bound of the demand zone around $0.00001460**. This range is critical—if broken, a drop to the **$0.00001336–$0.00001305 cluster becomes more likely.
SHIB Short-Term Outlook: Bullish Rebound or Breakdown Ahead?
The descending triangle visible on the intraday chart, combined with fading MACD momentum and RSI below 50, suggests further downside risk. A close below $0.00001460** would validate the breakdown setup and potentially open a path toward the **EMA200 support** near **$0.00001395.
On the flip side, if bulls reclaim $0.00001552** with volume and momentum confirmation, a bounce toward **$0.00001657 could materialize quickly. However, this would require reclaiming trendline resistance and holding above key EMAs.
The Shiba Inu price update shows a consolidation phase at a pivotal point. Traders should monitor this triangle structure closely—a confirmed breakout above $0.00001550** or a breakdown below **$0.00001450 will likely define SHIB’s next 48-hour trajectory.
SHIB Forecast Table for May 17
| Indicator / Zone | Level (USD) | Signal |
|---|---|---|
| Resistance 1 | 0.00001552 | Bollinger median / breakout level |
| Resistance 2 | 0.00001657 | 4H upper Bollinger Band / prior supply |
| Support 1 | 0.00001460 | Lower triangle base / key pivot |
| Support 2 | 0.00001336 | Intraday demand zone |
| 200 EMA (4H) | 0.00001395 | Dynamic support below range |
| RSI (30-min) | 45.52 | Bearish-neutral, under pressure |
| MACD (30-min) | Flat, near-zero | Weak momentum, unclear crossover |
| Bollinger Bands (4H) | Tightening | Volatility expansion expected |
| Pattern Watch | Descending Triangle | Breakdown bias if $0.00001460 fails |
| Volatility Outlook | Moderate, rising | Ready for breakout or breakdown |
👉 Stay updated on SHIB’s latest trends
FAQs
What is the current Shiba Inu (SHIB) price?
SHIB is consolidating around $0.00001490** after a recent high near **$0.00001720.
Why is SHIB’s price dropping today?
The price is under pressure due to weakening momentum, descending triangle formation, and resistance at key levels.
What are the key support levels for SHIB?
Critical support levels are $0.00001460** and **$0.00001336. A breakdown below these could lead to further declines.
What is the bullish scenario for SHIB?
If SHIB reclaims $0.00001552** with strong volume, a bounce toward **$0.00001657 is possible.
What technical indicators suggest downside risk?
The RSI below 50, fading MACD momentum, and descending triangle formation indicate potential downside.
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Disclaimer: The information presented is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.
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