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Following
SHIB Key Points
Shiba Inu is trading close to US$0.0000471, buyers are targeting US$0.00005, while resistance around US$0.00000496 is directly in the path of recovery.
SHIB maintains support around US$0.0000465 and US$0.0000446, with its Relative Strength Indicator (RSI) of approximately 55, leaving room for increased buying pressure and has not yet entered overbought status.
Trading volume remains relatively weak, while the 200-day moving average close to US$0.0000587 continues to decline, posing another major obstacle for SHIB bulls.
Shiba Inu approaches key resistance level, buyer confidence strengthens
Shiba Inu is approaching the important US$0.00005 resistance level as buyers strengthen their positions amid the recovery of SHIB prices. The token rose nearly 2%, trading at approximately US$0.0000471, making this psychological barrier within reach while improving the short-term technical structure.
SHIB has exceeded its shortest moving average, but resistance near $0.0000496 remains a significant obstacle for buyers. Once it breaks through this zone, the token will directly face US$0.00005, and stronger buying pressure will determine whether the recovery can advance further.
Compared with the weak trend that dominated the market for most of July, the current price trend has improved significantly. At that time, SHIB was trading in the range of US$0.000041 to US$0.000042. Buyers then pushed the token to around $0.000058, but selling pressure prevented the cryptocurrency from maintaining these higher levels.
Despite the resistance, the SHIB retained some gains and established a higher trading range between approximately $0.000046 and $0.000048. In addition, maintaining this structure provides buyers with the opportunity to challenge resistance again to break through the $0.00005 explosion range.
SHIB bulls need stronger trading volume to confirm that US$0.00005 breaks through
If the daily closing price can stabilize above US$0.000005, it will strengthen the short-term bullish structure and may expose resistance levels between approximately US$0.000052 and US$0.0000054. At the same time, support has formed around $0.0000465, while another moving average provides deeper technical support near the $0.0000446 region.
Holding these support areas will preserve the higher structures established during July's volatile trading and reduce direct downward pressure. However, losing both levels could weaken the recovery and increase the likelihood that the SHIB will fall back into its previously lower trading range.
The momentum indicator provides additional support for buyers. SHIB's daily relative strength indicator (RSI) is around 55, above its signal line of 52.6. It is worth noting that this reading is still outside the overbought zone, which means there is still room for further upside if demand strengthens near the current resistance zone.
Trading volume remains the main weakness, as volume has dropped significantly from levels seen during the end of July rebound. Therefore, if SHIB successfully breaks US$0.000005 and attempts to establish this level as support, stronger volume will provide a more reliable confirmation signal.
In addition, the downward 200-day moving average remains around US$0.0000587, putting pressure on the larger technical structure of SHIB. As a result, recovering $0.000005 will improve recovery prospects, but buyers will still face considerable resistance before establishing a broader bullish reversal. If it is rejected again, SHIB may remain trading between US$0.000045 and US$0.000050; continued breakthroughs may push its recovery to around US$0.000054.
