Shiba Inu (SHIB) is at a critical point for concluding its seven-month downtrend. According to current data, SHIB is trading at about $0.00001441 and is testing the 200-day exponential moving average, which is an important resistance level.
Technical Indicators: $0.00001451 Level
According to TradingView data, after weeks of moving within a narrow range, Shiba Inu’s price has reached the 200 EMA. SHIB is now testing the EMA barrier at $0.00001451, influenced by increased trading volume and a Relative Strength Index (RSI) of 72. The price rise is further supported by accumulated buying interest during months of consolidation and a recovery in the altcoin market.
Future Scenarios and Targets for SHIB
Bulls have clear expectations: a substantial breakout above the 200 EMA will turn the trend in their favor. Such a breakout could strengthen purchase projections for the rest of the year, pushing the price to targets of $0.0000165 and $0.0000180. However, a rejection from the resistance could lead to retracements to around $0.00001350.
Conclusion and Outlook
Current levels and the dynamics of Shiba Inu suggest that the final results will depend on upcoming trading candles and volume confirmation. Investors emphasize the importance of volume that will determine the new price trajectory.
Shiba Inu is at an important point where further price actions could either lead to recovery or a new decline. The future of SHIB depends on successfully breaking the $0.00001451 level and volume confirmation.
