Shiba Inu (SHIB) struggled to sustain gains above the 100-day simple moving average (SMA), closing at $0.00001317—a 2.9% increase over the last 24 hours.
Despite rising prices, SHIB’s bullish momentum appears subdued as buyers work to solidify support levels. Over the past day, the token established a firm support zone between $0.00001265 and $0.00001270, with technical signals pointing toward the possibility of continued upward movement.
Ongoing geopolitical tensions and shifting trade policies have caused volatility across cryptocurrency markets, with Shiba Inu surprisingly standing out as a relative beneficiary amid the uncertainty.
Nevertheless, SHIB was unable to hold above the 100-day SMA at $0.00001332, retreating slightly to trade around $0.00001317 at the time of reporting. The overall downtrend since May 12 remains evident.
Technical Highlights:
- Strong support formed at $0.00001267, where buyers repeatedly entered during early trading hours.
- Price action showed an uptrend characterized by higher lows and higher highs, breaking key resistance points at $0.00001294 and $0.00001313.
- After a consolidation phase between 01:07 and 01:34, SHIB saw a sharp breakout at 01:35 accompanied by a significant volume surge of 14.6 billion tokens.
- An ascending channel emerged, leading to a fresh local peak at $0.00001345.
- In the final minutes, some profit-taking appeared as volume declined, indicating potential short-term resistance while maintaining an overall bullish outlook.
