Shiba Inu Price Faces Bearish Pressure Amid Technical Rejection

Shiba Inu's price has been experiencing volatility in recent days, but technical analysis suggests that it is facing significant bearish pressure. The token's movement on the 4-hour timeframe indicates a weak market structure, with repeated failures to break above resistance zones.

Crypto Patel's analysis notes that Shiba Inu has been unable to overcome the $0.0000060 resistance zone, which aligns with a higher-timeframe order block. This rejection has led to a shift in market structure, with attempts to push upward forming lower highs and signaling weakening momentum.

The current price of $0.00000609 reflects a fragile market situation, and analysts warn that a continued breakdown below this level could accelerate downward movement. On-chain data supports this outlook, with increased exchange netflow and rising reserves indicating growing sell-side bias among holders.