Shiba Inu Price Holds Steady Near Key Support Zone

SHIB's price has stabilized near $0.0000046 as it tests trendline resistance and improves its weekly momentum indicators.

The cryptocurrency defended a major long-term support zone, which is acting as the market floor for SHIB, without recording a weekly breakdown. Buyers have continued defending this level during recent weakness.

According to the four-hour chart, SHIB was recently confirming its latest price at $0.0000055 but has since been making its way into a corrective phase, settling at $0.0000046 as sales dropped. A rounded recovery pattern developed near the latest trading candles, but the rebound remains incomplete.