Shiba Inu has shown an impressive price rally, breaking key resistance levels and closing at $0.00001548. This breakthrough comes alongside a shift in market sentiment.
Shiba Inu and Its Breakthrough
Shiba Inu cleared the $0.0000145 level, which had previously capped price movement for several weeks. This strong movement signals a potential end to a long-term downtrend.
Current Technical Indicators
The Relative Strength Index (RSI) is nearing 78, indicating that the asset is well overbought. Typically, such high readings are followed by either a retracement or a consolidation phase.
Outlook and Upcoming Support Levels
At the moment, SHIB is approaching a significant resistance zone in the $0.000016 to $0.000017 range. Success in maintaining above the $0.000014 level on any retest may support further upward movement.
Shiba Inu's movement remains bullish overall, but the upcoming days will be crucial for its future outlook. A test above $0.000017 may open the door to $0.0000185, while a dip below $0.000014 could shift trader sentiment toward caution.
