- SHIB trades at $0.00001369 after breaking above the descending trendline, gaining 2.8% in 24 hours.
- Key resistance stands at $0.00001409 while support holds at $0.00001313.
- RSI at 57.26 and MACD turning positive show increasing short-term momentum.
Shiba Inu (SHIB) has recorded a daily price increase of 2.8%, now trading at $0.00001369. The asset has rallied past a downward trend line that has confined prices since January 2025. The breakout, visible on the daily chart, comes after an extended period of accumulation below resistance.
The recent move shifts market focus toward the $0.00001409 resistance level, now within immediate range. Notably, the breakout coincides with a steady rise in volume and volatility. The bottom edge, which was marked by a support level at $0.00001313, remains intact after repeated retests since the end of June. Price action has been held within this established range since April, with recent prices now testing the upper limit of the range.
Technical Indicators Support Ongoing Short-Term Strength
The Relative Strength Index stands at 62.71, gradually inching towards the 70 upper boundary. This indicates moderate strength to the upside, but not yet an overbought situation.
The Moving Average Convergence and Divergence line of 0.00000013 has now crossed the signal line of 0.00000013, and this is a bullish sign in the short-term. All these indications are supporting the break above the downtrendline on the daily chart.
Crucial Resistance Zone to Guide Next Move
The immediate overhead resistance lies at $0.00001409. This level capped previous rallies in late May and early July. Any continued upward momentum will likely test this area again. Provided that price stays afloat beyond this mark, the wider area until $0.00001717 may emerge into perspective regarding historical rejection levels.
But the region between $0.00001313 and $0.00001409 is still important in the short term. This zone will determine whether momentum continues or stalls. Price has held above the lower bound of this range, reflecting short-term strength.
