SHIB: Multi-Month Support Finally BreaksSHIB / TetherUSBINANCE:SHIBUSDTDukesMarketAnalysisb]A Key Support Level Has Given Way • SHIB has now broken below the major multi-month support around $0.00000510, a level that repeatedly attracted buyers over the past few years. • Losing such an important area shifts the technical picture further in favour of the bears. Trend Remains Firmly Bearish • The 100/50-day EMAs remain bearishly crossed, with price continuing to trade below both moving averages. • Until those averages are reclaimed, rallies are likely to face selling pressure. Next Support Fast Approaching • The next key level sits around the 0.618 Fibonacci retracement at $0.00000448 on the 4-hour chart. • This is the first area where buyers may attempt to slow the decline. Momentum Still Weak • Selling volume has begun to increase while RSI remains below 50, highlighting that bears still have the upper hand. • Although the StochRSI is coming off oversold conditions, there is little evidence yet of a sustained reversal. Can Buyers Defend The Fib? • If buyers manage to hold the 0.618 Fibonacci support, SHIB could see a short-term relief bounce. • However, a decisive break below that level would significantly increase the probability of the primary downtrend resuming. In Summary SHIB has slipped below one of its most important multi-month support levels, reinforcing the bearish outlook. The 100/50-day EMAs remain negatively aligned, momentum continues to favour sellers, and attention is now shifting towards the 0.618 Fibonacci retracement at $0.00000448. While that area may attract buyers, the broader trend remains down, and unless support holds convincingly, the path of least resistance continues to favour further downside.