Shiba Inu (SHIB) bounced back strongly from an intraday low, supported by robust trading volume, as traders closely watch key resistance levels for potential bullish momentum.
Despite ongoing global economic uncertainties, SHIB demonstrated notable resilience, recovering from a midday low of 0.00001405.
The token’s recent price movements suggest a developing pattern, with a short-term support zone forming near 0.00001447 and immediate resistance at 0.00001452—levels that could shape its direction in the near term.
Technical Analysis Overview:
- Over the past 24 hours, SHIB’s price fluctuated between 0.00001402 and 0.00001458, a range of approximately 4%.
- The lowest point was hit at 0.00001405 around 3 PM, followed by a strong rally fueled by above-average volume.
- The most significant price surge occurred between 11 PM and midnight, with SHIB climbing 1.44% on exceptionally high volume of 756.55 billion tokens traded.
- A critical resistance level at 0.00001456 was briefly breached on high volume, which may act as strong support moving forward.
- In the hour leading up to 1:32 AM, SHIB hit a local peak of 0.00001456 before pulling back slightly to 0.00001446.
- At 1:51 AM, SHIB pushed through the 0.00001450 resistance again, rising 0.88% on elevated volume of 15.91 billion.
- Currently, a short-term support area seems to be consolidating around 0.00001447, with immediate resistance at 0.00001452.
Market participants will be watching these levels closely for signs of a sustained breakout or a potential reversal.
