Shiba Inu (SHIB) continues to show positive dynamics, increasing its price by 2.8% and breaking through the descending trendline.
Price Increase of Shiba Inu
Shiba Inu (SHIB) recorded a daily price increase of 2.8%, now trading at $0.00001369. The asset has rallied past a downward trend line that has confined prices since January 2025. This breakout, visible on the daily chart, comes after an extended period of accumulation below resistance.
Technical Indicators Support Trend
The Relative Strength Index (RSI) is at 62.71, indicating moderate strength to the upside but not yet in overbought territory. The Moving Average Convergence and Divergence (MACD) line has also shown a bullish signal in the short term, as the MACD line crossed above the signal line.
Key Resistance Levels
Immediate overhead resistance lies at $0.00001409, which has capped previous rallies in late May and early July. Any continued upward momentum will likely test this area. Should the price remain above this mark, a wider range through to $0.00001717 may come into perspective.
Expectations for Shiba Inu remain high due to positive technical indicators; however, key resistance levels require further analysis to assess future price movements.
