Shiba Inu Shows Potential for Further Gains After Breaking Key 26-Day EMA Resistance
2025-07-10 13:19:34
Main Idea
Shiba Inu (SHIB) has broken above the 26-day EMA, signaling potential for further gains, supported by increased on-chain activity and investor accumulation, though key resistance levels and volume trends remain critical to watch.
Key Points
1. Shiba Inu (SHIB) recently broke above the 26-day exponential moving average (EMA), trading around $0.0000125, indicating renewed bullish momentum.
2. On-chain data shows a significant increase in SHIB token transfers and accumulation, with over 100 trillion SHIB tokens held near the $0.0000110-$0.0000112 support zone.
3. Key resistance levels to monitor include the 50-day EMA (immediate hurdle) and the 100-day EMA near $0.0000130, with a break above potentially targeting $0.0000145 or higher.
4. The Relative Strength Index (RSI) is near 58, suggesting room for further price appreciation if buying interest continues.
5. Potential risks include SHIB inflows to exchanges and volume trends, which could impact the bullish momentum.
Description
Shiba Inu (SHIB) has recently surpassed a critical technical barrier, signaling renewed momentum in its price trajectory. On-chain metrics reveal increased token movement and accumulation, highlighting growing confidence among investors
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