Shiba Inu spot flows turn negative as price meets resistance at $0.00000568

Price action and support levels

The SHIB token has climbed approximately 3% in the past 24 hours, currently trading at around $0.00000535. Notably, SHIB now sits above a moving average cluster in the $0.00000500 to $0.00000507 range, which has established itself as the primary support region. The rising trendline from August’s price bottom provides bulls with an important level to defend.

However, the token has struggled to maintain momentum beyond $0.00000540. During the August rally, SHIB briefly approached $0.00000620, but significant selling pressure halted that move. A key long-term moving average creates resistance near $0.00000568, representing a major obstacle before any potential retest of previous highs.

Momentum and technical indicators

Momentum indicators remain mixed. While SHIB is holding above the neutral 50 mark on the daily Relative Strength Index, the current value of about 57.6 does not reflect strong bullish sentiment. Buyers maintain a technical advantage, but conditions do not support an aggressive upward continuation at this stage.

Persistently negative net spot flows in SHIB may indicate a trend of tokens leaving exchanges, which could limit immediate selling pressure, but the current flows are too minor relative to the overall market to serve as a standalone bullish signal.

Spot flows and market activity

Spot flows present additional complexity. Over the past eight hours, SHIB saw negative net spot flows of roughly $271,000, with a four-hour measure showing around negative $210,000. Such consistently negative flows may suggest that tokens are moving off exchanges, tightening available supply.

Despite these outflows, the amounts remain small compared to SHIB’s $3.16 billion market capitalization and therefore cannot independently validate a bullish outlook. Futures market activity is similarly indecisive, with open interest varying significantly between platforms and total 24-hour liquidations totaling about $112,000. This data highlights that SHIB’s recovery remains cautious rather than establishing a clear bullish breakout.

Critical price levels and market monitoring

Technicians are watching key levels closely. Breaking above $0.00000568 could reinforce SHIB’s improving technical structure, while holding above $0.00000500 is essential for maintaining the current trend. If the price falls below $0.00000500, the risk of a pullback into the $0.00000480 to $0.00000440 region increases and would challenge the prevailing upward momentum.

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