#Write2Earn‬ #ShibaInu #SHIB

Shiba Inu tries to overcome long term resistance

Technical analysis from the weekly timeframe shows that SHIB is in the process of breaking above a descending resistance line that has existed for nearly 570 days. So far, the trend line has rejected the price three times (red symbol).

Despite the increase, SHIB price has not yet reached the weekly candle close above the trend line. Additionally, it trades inside a long-term horizontal resistance zone that has existed for nearly a year.

Although the price has yet to break out, the Relative Strength Index (RSI) has increased. Traders use the RSI as a momentum indicator to evaluate whether the market is overbought or oversold and whether to accumulate or sell an asset.