Key Support Level: $0.000032
Key Resistance Level: $0.000035
Shiba Inu (SHIB) has recently broken out of a descending triangle formation, signaling a potential bullish reversal. After initially facing rejection at the $0.00003 resistance level, SHIB staged a strong comeback, surging nearly 20% in a single day. The token is now just 10–12% away from its all-time high (ATH) of $0.000035, according to CoinGecko data.
If SHIB manages to break through this critical resistance, it could enter the price discovery phase, where new highs become achievable. However, given the rapid price increase, consolidation may occur before another attempt to breach the ATH.
Technical Indicators
Trading Volume
The trading volume spiked significantly after SHIB broke the $0.00003 resistance, indicating strong bullish momentum. The sustainability of this volume will be crucial in determining whether SHIB can maintain its upward trajectory.
Relative Strength Index (RSI)
The RSI on the 4-hour chart has entered overbought territory (near 80), suggesting a potential short-term pullback to cool off the rally.
Moving Average Convergence Divergence (MACD)
The MACD histogram shows bullish momentum on lower timeframes (4-hour chart). However, the daily chart has yet to turn bullish, meaning SHIB needs further confirmation for a long-term uptrend.
Market Sentiment
The recent surge has shifted short-term bias to bullish. However, sustained momentum is required to confirm a longer-term bullish trend. A sharp rejection at the ATH resistance could quickly reverse gains, potentially testing support levels at $0.000032 or even $0.00003.
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Short-Term Price Prediction for SHIB
While the current outlook is optimistic, SHIB must convincingly break its ATH to confirm sustained bullish momentum. Traders should remain cautious near resistance levels, as sudden reversals could lead to sharp declines.
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FAQs
1. What caused SHIB’s recent 20% surge?
The breakout from a descending triangle formation and increased buying pressure drove SHIB’s rally, pushing it close to its all-time high resistance.
2. Is SHIB likely to reach a new ATH soon?
If buying volume remains strong and resistance at $0.000035 breaks, SHIB could enter price discovery mode and set new highs.
3. Should I buy SHIB now or wait for a pullback?
Given the overbought RSI, a short-term pullback may occur, offering a better entry point. Always conduct your own research before investing.
4. What are the key support levels if SHIB reverses?
Immediate support lies at $0.000032, followed by $0.00003. A drop below these levels could signal a deeper correction.
5. How does the MACD indicator affect SHIB’s trend?
While lower timeframes show bullish momentum, the daily chart needs a confirmed MACD crossover for long-term bullish confidence.
Disclaimer: The content provided is for informational purposes only and does not constitute financial advice. Always perform independent research before making investment decisions.