The Shiba Inu (SHIB) token has once again drawn the attention of traders after closing its latest weekly candle at $0.00001334, indicating potential changes in market structure.
Closing Above 20-Week Moving Average
SHIB has closed above its 20-week moving average for the first time in two months, which may signal a possible trend change. This level has been a consistent support in recent months.
Increase in Volatility According to Bollinger Bands
The Bollinger Bands have begun to widen, indicating a return of volatility. The upper band is positioned at around $0.00001554, which could serve as a short-term target for SHIB if the token continues to rise.
Clearing Short-Term Resistance
The token has broken past a downward trendline that has constrained its movement since May, opening the path for testing April highs around $0.00001550. If support holds, this may lead to further increases.
The SHIB token shows signs of potential recovery, and if buying momentum persists, a 20% price increase is a plausible reality.
