The Cryptocurrency Market feels the effects of changing global economic conditions as Shiba Inu (Shib) faces significant downward pressure.

The Meme -token’s recent price action shows a clear downward trend with consecutive lower heights breaking through multiple support levels.

The most intense sale occurred within 07:00 hours when the price collapsed to 0.0000149, with volume almost doubled the average trade rate.

Technical analysis highlights

• Shib fell from 0.0000159 to 0.0000149, representing a decrease of 6.4% with a total range of 0.0000012 (7.5%).
• Price action formed a clear downward trend with consecutive lower heights that broke through several support levels around 0.0000156 and 0.0000152.
• Sales of high volume occurred during the 07:00 hour, when the price collapsed to 0.0000149, with volume of over 1.43 trillion shib-nest twice the average trading volume.
• Formation of resistance at 0.0000152 and support at 0.0000148 suggests potential consolidation before the next directional feature.
• In the last hour, Shib experienced considerable volatility with a sharp drop from 0.0000151 to 0.0000147, followed by a modest improvement to 0.0000149.
• The most intense sales pressure occurred between 13: 33-13: 36, with volume spiking to over 83 billion shib at. 13:35, which established a critical support zone around 0.0000148.
• Price action formed a V-shaped recovery pattern after reaching the session low on 0.0000147 at. 13:51, with increasing Momentum that pushes Shib back over 0.0000148 level.

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