Momentum Builds for Shiba Inu: Is the $0.000014 Resistance Next?

Shiba Inu (SHIB) is gaining traction as it holds firm at a crucial support level of $0.000012. This support has shown resilience, with buyers actively stepping in to push the price upward. Consequently, if this momentum continues, SHIB is poised to test its resistance at $0.000014. A successful breakthrough could lead to a remarkable 15% price increase in the upcoming days.

Strong Support Signals Buyer Confidence

The $0.000012 support has been tested twice, demonstrating robust interest from buyers. Each bounce off this level indicates that investors are willing to engage with the token. Today, SHIB has entered positive territory, reflecting renewed confidence among its holders. As momentum builds, the token may soon challenge the $0.000014 resistance. If buyers maintain their activity, they could break through this level, setting the stage for a larger rally.

Source| TradingView

Positive Momentum Indicators

Momentum indicators are increasingly bullish for SHIB. The MACD histogram on the daily chart shows higher lows, signaling that a bullish crossover is near. If buyers remain active, SHIB’s price is likely to rise further. Additionally, the recent consolidation around these levels allows SHIB to gather strength and prepare for a potential breakout.

RSI Indicates Growing Strength

The Relative Strength Index (RSI) also points to a positive trend for SHIB. Since August, the RSI has consistently made higher lows, indicating increasing strength. Recently, it moved above its moving average, which serves as a bullish signal. This development suggests that buyers are firmly in control of the market.

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If SHIB can successfully break above the $0.000014 resistance, it could trigger a significant rally. The technical signals surrounding SHIB indicate that a 15% surge is within reach. With strong support in place and signs of bullish momentum, SHIB is well-positioned for potential growth. If buyers continue to push, the token could experience a major rally in the near future.

Read Also: Shiba Inu (SHIB) Faces Low Trading Volume and Liquidity

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