Shiba Inu has shown resilience recently by rebounding from a critical support zone. The question remains whether it can sustain this upward movement.
Current SHIB Dynamics
After a prolonged decline, Shiba Inu displayed positive momentum, gaining 3% in a day, reaching approximately $0.00001276. This is further supported by an improved Relative Strength Index (RSI), which has reached 47.8 and continues to rise, indicating potential bullish momentum.
Technical Indicators Analysis
Despite being below the 50, 100, and 200 EMAs, signs of recovery are apparent; breaching above the 26 EMA at $0.00001382 might open the path for further growth. The increased trade volume confirms buyer interest.
What to Expect from SHIB
SHIB's price could reach $0.00001617 and even $0.00001800 if it overcomes short-term resistances. At the same time, a breakout above the 26 EMA could indicate the start of a longer rally.
Shiba Inu has the opportunity for further recovery under the current improved market conditions. Enthusiasts should watch price behavior around the 26 EMA.
