SHIB price has been trading in a bullish manner for a while, with the lower trend line acting as strong support. The recent volatility that started in space caused the price to print successive bullish candles pushing levels inside the ascending triangle resistance. Although a breakout attempt is occurring at the moment, a bullish close above the area may validate the rally.
Moreover, the price has reached the upper band of the Gaussian channel and a close above these levels may trigger a new bullish condition. On the other hand, the RSI is bullish, indicating that the price may remain higher and reach the upper resistance area between $0.00003 and $0.000032. To do this, buying pressure must increase as trader activity rises, which may attract more liquidity.
Therefore, it is very important to monitor the price movement of Shiba Inu (SHIB) until the close of the day, as a small mistake could trigger a crash. A daily close inside or below the resistance area can confirm the validity of the downward momentum, which could lead to further downward movement.