Shiba Inu (SHIB) is showing signs of life again. The memecoin is up 6% today and is trading around $0.0000145 at the time of writing. It’s been moving steadily higher over the past week, and now it’s starting to test some important levels on the chart.
The overall crypto market is bullish right now. Ethereum has broken past key resistance levels, and that strength is spilling over into altcoins like SHIB.
What you'll learn 👉
SHIB Chart: Bulls Pushing Toward the 200-Day
Looking at the daily chart, SHIB has broken out of the sideways range it was stuck in during June and early July. That zone, between $0.0000135 and $0.0000140, had been holding price down. But now, SHIB has moved above it and is heading straight for the 200-day moving average, which sits at $0.00001467.
That’s a big deal. The 200-day is often seen as a long-term trend indicator. If SHIB can break above and stay above it, that could confirm a bigger trend reversal.
The RSI is at 72.59, which means SHIB is technically overbought. That usually means price might take a short pause. But during strong uptrends, RSI can stay high for a while before cooling down.
Right now, support is around $0.0000135. If that breaks, the next level to watch is $0.0000120. On the upside, the next resistance is at $0.0000158, which is where the price got rejected back in May.
Momentum Indicators Are Flashing Green
Momentum is picking up. The Ultimate Oscillator is reading 55.23, showing there’s still room to go before it gets overheated. The Rate of Change (ROC) is high too, sitting at 22.13, which means price is accelerating fast.
These indicators tell us that buyers are in control right now and pushing the price up with strength.
Bullish Market Helping SHIB
Ethereum’s rally is lifting the mood across the whole market. When ETH is strong, altcoins usually follow – and SHIB is no exception. It also helps that memecoins tend to get more attention when the market is hot.
SHIB is still one of the most popular memecoins, so it’s not surprising to see it bounce with the rest of the market.
Read also: Dogwifhat (WIF) Price Pushes Toward $1.20 as Traders Watch for Breakout
SHIB Price Prediction: What’s Next?
If SHIB can close above the 200-day moving average, we might see a move toward $0.0000158. That’s the next resistance zone and could act as a short-term target. If momentum stays strong, the SHIB price could even aim for $0.0000172, where it topped out in March.
But if SHIB fails to break the 200-day and pulls back, watch for a retest of $0.0000135. That level now needs to hold as support to keep the bullish structure intact.
So far, things look good for SHIB in the short term. The chart is improving, momentum is strong, and the market environment is supportive. As long as those conditions hold, SHIB could continue its push higher.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
