Shiba Inu shows first signs of a trend change after a prolonged decline, breaking through important technical levels.
Technical Indicators Confirm Reversal
Following weeks of downward pressure, Shiba Inu has made its first notable bullish retrace, suggesting a possible shift in trend. The asset is trading at around $0.00001337 and has successfully pushed above the 26-day EMA, which often signals a wider upward continuation.
Volume and Resistance Analysis
The breakout above the 26 EMA represents the first major sign of reversal since February, confirming the growing bullish momentum. The price hit its lowest point around $0.0000122, which is now a strong local support zone. Given that SHIB has risen above short-term moving average resistance, it may be poised to target the 50 EMA near $0.0000145, which represents the next significant resistance. The current 50.75 Relative Strength Index (RSI) adds weight to the bullish scenario, as any move above the 55-60 zone could confirm growing strength.
Bullish Outlook for Shiba Inu
To validate this signal, levels above $0.0000133 need to be maintained, and a break above the 50 EMA should occur. In essence, Shiba Inu has crossed the 26 EMA with supportive volume and RSI strength, starting a significant bullish retrace. A move toward $0.0000145 and beyond might be achievable if buying pressure continues, potentially signaling a trend reversal for the well-known meme coin.
Shiba Inu currently shows bullish sentiment; however, there are still macro indicators pointing to long-term bearish pressure.
