Shiba Inu (SHIB) shows a significant price increase of 6.63%, attracting renewed interest from buyers. The current price is 0.0000150 USDT.
Breakout from Downtrend
SHIB has broken out of a prolonged descending trendline, marking a technical shift after being confined within a downward channel since late 2024. Following the breakout, SHIB registered two distinct upward movements confirming bullish strength. Analysts highlight the current buy price of 0.00001483 USDT, slightly above the sell price of 0.00001482 USDT, indicating ongoing buyer dominance.
RSI Decline Indicates Shift to Neutral Phase
SHIB’s Relative Strength Index (RSI) has dropped to 49.28, suggesting indecisiveness among traders. It had peaked near 80 in early May, indicating intense buying activity. The current RSI level shows neither bulls nor bears are dominating, which could lead to consolidation before a new trend forms.
Price Consolidates After Breaching Descending Channel
SHIB is consolidating around the former upper boundary of its descending channel. After breaking above the channel, the token faced a minor pullback but has stabilized near 0.00001466 USDT, which now acts as a potential support level. Volume remains steady, signaling confidence among market participants and minimal exit pressure.
The current situation for Shiba Inu indicates potential for continued growth if the price holds above established support levels. With rising volume and bullish signals, the market awaits confirmation of sustained growth.
