[DigitalToday reporter Yoonseo Lee] Shiba Inu (SHIB) has entered a short-term downturn after failing to break above a key resistance level near $0.00000500.

Blockchain outlet U.Today reported on Aug. 6 that the latest recovery attempt lost steam after running into major technical resistance, with sellers regaining control and forming a short-term bearish structure.

The market watched whether Shiba Inu could hold above the psychological resistance of $0.00000500 after last week's sharp rise, but the price retreated immediately after briefly testing the level. The 50-day moving average also overlaps around the same price, making resistance stronger.

The daily chart also showed a slowdown in the rebound. Recent candles showed gradually lower highs, confirming a signal that buying momentum is weakening rather than strengthening.

Technically, the short-term trend has moved into a corrective phase. The price slipped below the 20-day moving average, while the 50-day moving average remains overhead resistance. The 100-day and 200-day moving averages are higher still, adding to the burden that the failure to regain the first key resistance did not change the broader bearish flow.

Momentum indicators have also cooled. The relative strength index fell to around 53 from overbought territory. That suggests buying pressure has weakened noticeably but has not yet reached oversold territory. There is room for further declines if sellers keep control in the next trading range.

The derivatives market also showed bearish signals. Over the past 24 hours, long-position liquidations totaled about $176,000, far exceeding short-position liquidations of less than $13,000. That means leveraged long positions were rapidly unwound right after the failed breakout attempt. Futures fund flows also turned negative over a longer period, indicating speculative traders are moving far more cautiously than spot buyers.

The spot market has generally kept net inflows positive in the short-term window, but on-chain indicators showed another burden. Exchange holdings rose slightly, while exchange inflows and net inflows increased together. That means more Shiba Inu has been moving onto exchanges, and if holders realize recent gains, short-term selling pressure could grow.

The first support is put around $0.00000465 near the rising 20-day moving average. If that level breaks, $0.00000445, the recent breakout area, could open as the next level to watch. If buyers are to reverse the move, they must first regain the 50-day moving average. In the near term, whether resistance is reclaimed and the rise in exchange inflows will remain variables that determine Shiba Inu's direction.