Will SHIB Crash After Death Cross?
Shiba Inu just flashed a “death cross” on the lower timeframes, and as usual, the chart has split traders into two camps.
Right now, SHIB is trading slightly below $0.0000060 after sliding under several short-term moving averages. On February 23, the 200-period simple moving average crossed above the 50-period moving average on the 2-hour chart.
In technical analysis, that crossover is widely seen as a bearish signal. It suggests that recent price momentum has weakened enough for longer-term averages to overtake shorter ones.
But here’s the thing: death crosses don’t appear out of nowhere. They usually show up after the damage has already been done.
Why the Signal Matters
SHIB had already formed a similar crossover on the 1-hour chart days earlier. The latest signal on the 2-hour timeframe simply confirms that short-term structure has been leaning bearish for a while. Price has been making lower highs, and each bounce has struggled to build strength.
The important level right now is $0.0000060. That zone previously acted as demand, drawing in buyers during earlier dips. SHIB briefly bounced above $0.0000061, but buying pressure faded quickly. There hasn’t been a strong follow-through.
If this support breaks decisively, the next areas to watch sit around $0.0000057 and then $0.0000050. Those levels have seen reactions in the past, but every time a support level gets tested, it weakens a little more. A clean breakdown could open the door to a faster move lower.
Also Read : Crypto Market Today: Bitcoin and Ethereum Pump After Jane Street Lawsuit ,
On the upside, resistance sits near $0.0000066, with heavier supply around $0.0000072 and $0.0000078. For any real recovery to take shape, SHIB would need to reclaim those zones and climb back above its short-term moving averages. Without that, rallies risk turning into short-lived relief bounces.
It is also important to remember that death crosses are lagging indicators. They confirm what has already happened. They do not guarantee that a fresh crash is coming. Sometimes they appear right before a short squeeze or bounce, especially if the market is already stretched to the downside.
At this point, SHIB is at a technical crossroads. The chart looks fragile, but the $0.0000060 level is still in play. Whether it holds or breaks will likely decide the next meaningful move.
FAQs
Recovery depends on reclaiming $0.0000066 and holding support. Without that, rallies may remain short-term relief bounces.
Yes, if $0.0000060 fails decisively, downside momentum could extend toward the $0.0000050 support region.
Short-term structure leans bearish due to lower highs and the death cross, but support at $0.0000060 remains critical.
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
