SHIB Faces Downward Pressure After High-Volume Dump Breaks Ichimoku Support

SHIB Faces Downward Pressure, Stays Below Ichimoku Cloud Following Heavy Overnight Sell-Off

Shiba Inu (SHIB) experienced notable downward momentum after a wave of high-volume selling pushed its price beneath the Ichimoku Cloud, a key technical indicator signaling potential bearish trends.

After touching an intraday high of 0.00001307, SHIB’s price reversed course sharply overnight, declining to lows near 0.00001274 during early Monday trading sessions. The token’s inability to break above the cloud signals ongoing selling pressure and uncertainty among traders.

The Ichimoku Cloud serves as a dynamic support and resistance area, and trading below it typically indicates that bearish forces dominate. SHIB’s current position below this cloud reflects broader market caution amid continuing macroeconomic headwinds.

Highlights from recent trading activity:

SHIB rallied to 0.00001307 before succumbing to intense selling pressure.
The price found temporary support near 0.00001275 but struggled to maintain upward momentum.
A short-lived rebound to around 0.00001293 faded as sellers regained control.
Declining trade volumes during the late session hint at potential consolidation ahead.

Market observers suggest SHIB must reclaim and hold levels above the Ichimoku Cloud to reverse its short-term downtrend and restore investor confidence.