A detailed technical analysis of Shiba Inu ($SHIB ) suggests the token could either revisit multi-year highs or dip to retest critical support levels. According to a TradingView assessment, SHIBโs short-term trajectory hinges on breaking key resistance points, with its daily candlestick chart (SHIB/USDT) pointing to a potential surge to $0.000045 if bullish momentum prevails.
๐ฅKey Resistance and Support Levels๐ฅ
SHIBโs upward momentum depends on surpassing two major resistance levels. The first resistance at $0.00003239, which caused profit-taking during December 2024, stands as the initial barrier. A successful break above this level could signal renewed buying interest and bullish momentum. Beyond this lies the crucial $0.00004563 levelโa psychological milestone last tested during SHIBโs early 2024 peak. A breakout here might pave the way for a retest of its all-time high.
On the downside, two significant support levels could halt any price declines. The primary support at $0.00001035 has historically acted as a strong buying zone, with notable rebounds occurring in August 2024. This levelโs strength suggests it remains a critical safety net for SHIB. However, a breach below $0.00001035 could erode buyer confidence, potentially leading to further bearish pressure and testing lower support zones.
๐Momentum Indicators and Current Trends๐
Momentum indicators like the MACD and RSI currently reflect a neutral to slightly bearish sentiment. The MACD appears flat, indicating a lack of clear directional movement, while the RSI hovers around 40, signaling mild downward pressure. Despite this, a steady climb could target $0.00003239 in the near term, with $0.00004563 as the next major milestone for bullish traders. Conversely, a fall below $0.00001035 could exacerbate selling pressure.
In the past 24 hours, SHIB has risen by 8% to reach $0.00002239. Crypto analyst Ali Martinez highlights the importance of maintaining the $0.0000215 to $0.0000193 support range to sustain bullish sentiment. As traders monitor these critical levels, Shiba Inu remains at a pivotal point in its journey toward potentially reaching $0.000050.
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