[DigitalToday reporter Yoonseo Lee (이윤서)] Shiba Inu is starting to show technical rebound signals despite long-running selling pressure.

On July 2 (local time), blockchain outlet The Crypto Basic reported that Shiba Inu is building a base above a key support line around $0.0000040. It said the key to confirming a rebound will be whether it can break above the descending trendline around $0.00000451.

Shiba Inu has not fully escaped the broader crypto market’s weak trend. Still, the daily chart shows signs that the previous downside momentum is weakening. This is seen as the first attempt by buyers to defend that area after a prolonged decline.

Some technical indicators have also improved. The relative strength index (RSI) fell below 30 twice last month, entering oversold territory. It slid to 19.54 on June 5 and 21.44 on June 28, but has now climbed to 32.94. Typically, when this kind of move appears, downward momentum often weakens.

Relatively subdued trading volume was also cited. Shiba Inu has not fully exited a sharp-drop phase, but there is a view that market structure has entered an early stage of shifting from an extreme decline to a more stable state.

It is still too early to talk about a trend reversal. Shiba Inu remains below a descending resistance line that has blocked every rebound attempt since May 11. The most important level is the descending trendline around $0.00000451, and a clear break above it could be a signal that buyers are regaining control.

Upside target zones were also presented. If Shiba Inu breaks the trendline, the first major resistance is $0.0000051. That is about 18 percent above the current price of $0.0000043. If it clears that level as well, a second profit-taking zone is cited at $0.0000055, and if upward momentum holds, $0.0000066 could come into view. That level is 52 percent above the current level.

Downside risks also remain. With overall market control still in the hands of sellers, positive signals alone do not eliminate the possibility of further declines. If the $0.0000040 support breaks, an additional downside path could open.

For downside support targets, $0.00000241, the 1.272 Fibonacci extension zone, was presented as the first bottom, while the second bottom was cited at $0.00000155, the 1.414 Fibonacci extension zone. In that case, the decline from the current price would reach 64 percent.

In the end, Shiba Inu’s short-term direction depends on defending the $0.0000040 support and breaking above the $0.00000451 resistance. The rebound scenario can gain strength only if buyers hold above support and then push through resistance. If support collapses, managing downside risk is likely to return to the center of the market rather than expectations of a technical rebound.