Shiba Inu Recent Trend Analysis

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Price Recovery and Market Sentiment

Shiba Inu (SHIB) has recently risen above the 100 EMA to reach $0.0000230, boosting market optimism for meme coins. However, this rebound is not sufficient to confirm a fundamental trend reversal. Although breaking the 100 EMA is a positive signal, regaining this level has not changed SHIB's long-standing bearish trend.

Impact of Insufficient Volume

The main issue hindering SHIB's further recovery is the significant decline in trading volume. Despite the price increase, the lack of buying interest reflects traders' lack of confidence. Typically, a price rise accompanied by a decrease in volume indicates the fragility of the rebound, suggesting that this trend may be difficult to sustain.

Key Resistance and Support Levels

To achieve a significant trend change, SHIB needs to break through the 200 EMA, which is currently near the resistance level of $0.0000250. If it successfully holds above this level, the price may further test the $0.0000300 range, and breaking this psychological barrier will strengthen bullish sentiment.

Conversely, if SHIB cannot maintain above the 100 EMA, the price may retreat to the support level of $0.0000205, or even further test the bullish line below the 200 EMA. A break below these key levels will re-trigger bearish pressure in the market, nullifying the rebound attempts.

Rebound and Trend Turning Point

Although the recent rebound has somewhat alleviated SHIB's downward trend, a complete reversal will take time and more confirmation signals. Currently, SHIB is at a critical turning point, and its future movement will determine the short-term outlook. If trading volume remains low, traders should be cautious of a potential price pullback; however, a breakout above the resistance level of $0.0000250 can be seen as the establishment of a bullish trend. Click the avatar to go live and chat!