SHIB: Approaching Support
Shiba Inu (SHIB) technical analysis:
Trade setup: Bullish breakout from Ascending Triangle was followed by a break above $0.000010 resistance and 200-day Moving Average, which confirmed a bullish trend reversal to Uptrend. Now, price is retesting that breakout level. Pullback to $0.000008 could be an attractive swing entry, with upside potential back to $0.000010.
Trend: Downtrend on Short- and Medium-Term basis and Neutral on Long-Term basis.
Momentum is Bearish but inflecting. MACD Line is below MACD Signal Line and RSI is below 45 but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance: Nearest Support Zone is $0.0000080 (previous resistance), then $0.0000055. The nearest Resistance Zone is $0.0000100, then $0.00001200.
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