SHIB/USDT Breaks Above 200 MA
$SHIB

SHIB/USDT is currently trading at 0.00001400, up by +0.29%, after breaking above a critical resistance level around 0.00001372, which is also the 200-period moving average. This breakout suggests growing bullish momentum as the price continues to rise above key technical levels. The price is also trading above the VWAP at 0.00001400, further indicating bullish sentiment.

The RSI is currently at 66.81, which shows that SHIB/USDT is nearing overbought territory. While the bullish trend is strong, the RSI suggests that a short-term pullback or consolidation could be possible before further upward movement continues.

The MACD also confirms bullish momentum, with the MACD line at 0.00000017 above the signal line at 0.00000010. The histogram is positive and growing, supporting the idea that bullish pressure could persist in the short term.

Key resistance levels to watch are around 0.00001450 and 0.00001500. A break above these levels could lead to further upside toward 0.00001600 or higher if buying pressure continues.

On the downside, immediate support lies at 0.00001372 (the 200 MA), with stronger support at 0.00001350. A failure to hold these levels could lead to a retracement toward the lower consolidation zone around 0.00001300

Disclaimer: This analysis is for informational purposes only and should not be taken as financial advice. Always conduct your own research before making trading decisions.

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