Technical analysis reveals that Shiba Inu could either return to multi-year highs or drop to retest support levels. The latest TradingView analysis has identified key support and resistance levels that could impact Shiba Inu’s short-term moves. The daily candlestick chart of SHIB vs Tether (USDT) shows a potential rally to $0.000045 if the critical resistance levels are breached.
Key Support and Resistance Levels for Shiba Inu
Shiba Inu’s bullish trajectory is based on two major resistance levels, according to the study. The first hurdle at $0.00003239 could attract sellers or trigger profit-taking. This is especially evident as it was resisted in December 2024. A significant break above this level could signal bullish momentum.
The psychologically crucial second resistance level at $0.00004563 may test the market optimism. Because Shiba Inu price peaked in early 2024 at this level. If bulls break $0.00004563, Shiba Inu may attempt to reach its all-time high.
The Shiba Inu price decline could be halted at two important support levels on the downside. The first support is $0.00001035. In 2024, Shiba Inu bounced off the upper edge of this support area several times, most notably on August 5. Historically, this level has shown significant buying activity, indicating a trend floor.
If the price drops below this important support level, everything could change. A break below $0.00001035 could weaken buyer confidence, allowing Shiba Inu to test the lower support.
The study shows that the MACD and RSI for Shiba Inu are neutral to slightly negative. The MACD is flat with no movement, and the RSI is approaching 40, just below the halfway mark.
A steady upside advance at this point could target $0.00003239 in the near term and $0.00004563 in the long term for bullish traders. A decline below $0.00001035 could exacerbate the downtrend.
In the last 24 hours, the price of Shiba Inu has increased by 8% to $0.00002239. Cryptocurrency expert Ali Martinez said that Shiba Inu needs to hold the support zone from $0.0000215 to $0.0000193 to remain bullish.