SHIB Price Analysis of March 6, 2025: Shiba Inu Shattered $0.00001350 Resistance Level, Surging Over 10%

Are you interested in investing in Shiba Inu today? The SHIB price analysis will definitely help you to understand the scope of investment in the coin today, March 6, 2025. The SHIB/USDT 5-minute chart on Binance provides a detailed view of price movements, highlighting crucial support and resistance zones, breakout attempts, and trend shifts. At 03:00 UTC, SHIB hit a daily low of $0.00001275, thereby triggering a strong rebound that led to the bullish SHIB breakout above $0.00001310 at 09:00 UTC. Let’s dive into a detailed SHIB price analysis to understand the price action further.

Analyzed by baishnabtriparna, Published on Tradingview, March 6, 2025 

SHIB’s Price Trend: Crucial Support and Resistance 

SHIB’s Price Trend has created definite support and resistance areas that assist traders in spotting prospective price breakouts or retrace points. The price stopped moving upward after reaching $0.00001275 at 03:00 UTC because the $0.00001275 to $0.00001280 span acted as a robust support zone. Price stability grew stronger with this support level because it became the lowest point during the day before prices started to rise.

A strong resistance has been confirmed after price rejections occurred between the levels of $0.00001355 and $0.00001360. At the time of 04:30 UTC the level reached its daily peak. The SHIB price encountered a short-term resistance at $0.00001340 during 12:00 UTC before resuming its upward direction. Market participants will analyze the upcoming price interactions at these resistance zones because they need to determine whether the price will push through or if selling pressure will force a pulling back.

SHIB Breakout Attempts: Tracking Key Price Movements

Price fluctuations of SHIB are characterized by high volatility which starts from early morning market hours preceding powerful upward trends. The new market momentum resulted in SHIB surpassing $0.00001310 at 09:00 UTC and pushing its price up to $0.00001340 until it met resistance.  After its first breakout, SHIB established itself within a rising pattern that extended between $0.00001340 and $0.00001300. The price experienced a short downward movement when it rejected $0.00001340, while the primary upward momentum pattern continued during the event. SHIB currently evaluates the resistance threshold at $0.00001360 for the second time since 04:30 UTC. 

Momentum Indicators: RSI and MACD Signal SHIB’s Next Move

The Relative Strength Index Has played a crucial role in SHIB’s recent price action. At 03:00 UTC, when SHIB dropped to $0.00001275, the RSI hit 28.5, thereby placing it in the oversold zone and triggering a rebound. By 12:00 UTC, the RSI had surged to 74.3 as SHIB reached $0.00001340, signaling overbought conditions that led to a pullback. The MACD indicator further supports SHIB’s recent trend shifts. A golden cross at 18:00 UTC around $0.00001300 signaled bullish momentum, while a death cross at 12:00 UTC near $0.00001340 coincided with a price correction. 

SHIB’s Next Move: Breakout or Rejection at Critical Resistance?

The price of Shiba Inu (SHIB) is now confronting a critical level of resistance at $0.00001360. A break above this can spark a surge towards $0.00001380 or even $0.00001400. Both RSI is not in an extremely overbought area, indicating more room for growth, while the MACD trend is bullish, supporting the upward move. SHIB could even continue its most recent bullish momentum if there is no reversal in momentum.

But if it resisted and failed to break beyond $0.00001360, SHIB could be rejected to drop back to $0.00001320 or $0.00001300. A continued decline below $0.00001300 could drive the price towards the strong support level at $0.00001280. As of 04:30 UTC, SHIB/USDT is upward-trending from $0.00001275, thus making this resistance line a critical point of change.