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SHIB Shiba Inu rose 2% to target a resistance level of US$0.00005, and trading volume remained sluggish.
Shiba Inu, a cryptocurrency project themed with popular emojis, is showing signs of recovery after experiencing sharp fluctuations at the end of July. The token's daily chart rose nearly 2% to approximately $0.0000471. This trend has brought Shiba Inu closer to the key psychological level of US$0.00005 and on its shortest moving average, suggesting that it may have upward momentum in the short term.
Price levels and technical goals
Compared with most of July, the recent trading pattern of Shiba Inu coins appears to be more stable. After hitting the bottom of US$0.000041 to US$0.000042, the token surged to around US$0.000058 at the end of July before quickly pulling back. Although this round of gains was suppressed, Shiba Inu retained most of its gains and has since stabilized between US$0.000046 and US$0.000048.
Currently, the orange moving average is at US$0.0000496, which is the immediate technical resistance level and the next target for Shiba Inu. If the daily closing price can steadily break through this level and the nearby US$0.00005 mark, the market's attention may turn to the resistance level between US$0.000052 and US$0.000054, which will be the strongest breakthrough attempt for Shiba Inu since its rebound in July.
Current price: US$0.0000471, above the shortest moving average;
Immediate resistance: US$0.00000496 (orange moving average);
Key threshold: US$0.000005 (psychological price);
Breakthrough target: US$0.000052-US$0.000054 (potential next resistance);
200-day moving average: US$0.00000587 (long-term resistance).
Support areas and potential momentum
Below current price levels, multiple support clusters have been formed. The green moving average is at approximately US$0.0000465, while the blue moving average drops further to approximately US$0.0000446. Holding these support levels will help maintain the high trading range created after the recent surge in volatility.
The kinetic energy indicator further enhances the possibility of a recent rise. Shiba Inu's daily relative strength index (RSI) is 55, easily above its signal line of 52.6 and is outside the overbought zone, indicating that the token may still have room to move forward without immediately running out of momentum.
However, the volume trend showed significant weakness. Although trading activity surged during the July surge, volume has shrunk significantly since then. This decline in participation calls into question the reliability of the current uptrend and makes the test of the $0.00005 mark even more important.
Prospects and Key Risk Levels
Even if Shiba Inu breaks through short-term resistance, its overall bearish outlook has not been completely eliminated. The currently declining 200-day moving average (close to $0.0000587) remains a distant ceiling.
For now, the US$0.00005 level is a key point worthy of attention. If a clear rejection is encountered near this barrier, Shiba Inu is likely to be limited to the range of US$0.000045 to US$0.000050. On the other hand, continuing to stand above $0.000005 could mark a more reliable attempt at recovery.
The price of Shiba Inu has stabilized after fluctuations in July, with immediate resistance at US$0.0000496 and the key breakthrough point at US$0.00005. Momentum is improving, but low trading volume may limit the strength of subsequent gains.
