SHIB approaches crucial resistance zone after reclaiming support levels
Shiba Inu (SHIB/USDT) has gained more than 6% in the past 24 hours, trading at $0.00001308 as buyers push the token toward a critical resistance zone. The move comes after a period of sideways consolidation, raising hopes of a potential breakout if momentum continues.
The chart highlights SHIB climbing back into the $0.00001300–$0.00001350 resistance area, a zone where sellers have previously capped rallies. This barrier remains the immediate test for bulls, and a decisive breakout could open the path toward $0.00001600, where another major supply zone is visible.
According to BITX market strategists, “Shiba Inu is testing its upper resistance after several failed attempts. The price must close above $0.00001350 to confirm renewed bullish momentum.”
On the downside, key support rests at $0.00001200, where demand has repeatedly cushioned declines. If SHIB fails to hold this level, the token could retest deeper supports near $0.00001170, threatening the recent gains.
Analysts emphasize the importance of holding above the green support area to maintain bullish structure. “If buyers protect $0.00001200, SHIB has room to attempt another breakout. A failure, however, risks pulling the price back toward earlier summer lows,” According to BITX experts.
Trading volume has shown signs of recovery, indicating fresh participation from retail traders. The pattern of higher lows suggests gradual accumulation, though SHIB remains vulnerable to sharp pullbacks if resistance holds firm.
With broader crypto market volatility playing a role, Shiba Inu’s trajectory could depend on Bitcoin’s movement in the coming sessions.
For now, Shiba Inu is at a make-or-break moment. A breakout above $0.00001350 could confirm bullish continuation, while rejection at this zone may push SHIB back into its established consolidation range.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.