Shiba Inu’s long skid may be showing signs of life. After tumbling more than 93% from its 2021 all-time high, SHIB is lingering near two‑year lows — but technical conditions suggest a potential rebound could be brewing. Why bulls think a bounce is possible Crypto analyst Jonathan Carter points to a persistent falling-wedge support as the key development. Despite repeated attempts to break lower, SHIB has continued to find buyers around roughly $0.0000054, turning that zone into a defended foothold. In classical technical analysis a falling wedge often precedes a bullish reversal, so Carter argues this setup could set the stage for the next upward wave if bulls maintain control. Price levels to watch Carter lays out a sequence of resistance targets SHIB would need to clear on a sustained rally: - $0.0000068 — the first meaningful hurdle after a bounce - $0.00001 — a major psychological resistance level - $0.000013 — a target that may be easier to overcome given past price action - $0.000016 — roughly a 3x rise from the current support, where an uptrend could be well established - $0.000022 — a significant resistance where bulls may face heavier selling pressure - $0.000033 — the analyst’s final target and the suggested sell zone for a buy at ~$0.0000054 “Buyers are defending this established support zone as strength emerges from the consolidation phase,” Carter notes. What would confirm the move For this bullish scenario to play out, SHIB needs to hold the $0.0000054 support and generate a convincing breakout from the falling wedge with follow‑through buying above the initial targets. Failure to hold the support or renewed selling pressure would invalidate the thesis and likely keep downward momentum intact. Bottom line After a year-long sell-off, SHIB is at a crossroads: technically oversold but sitting on a tested support that could fuel a sizable rebound if buyers step in. Traders should monitor the $0.0000054 support and the listed resistance levels for signs of confirmation or failure. (Not financial advice.) Read more AI-generated news on: undefined/news

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