Shiba Inu (SHIB) has surged past a significant technical barrier, breaking above the 200-day Exponential Moving Average (EMA) and overcoming key resistance at $0.00001548. This move signals a potential trend reversal and strengthens bullish momentum for the meme-inspiredTechnical indicators, howeverTechnical indicators, however, suggest caution. The Relative Strength Index (RSI) currently hovers around 78, placing SHIB firmly in overbought territory. This condition often precedes short-term pullbacks or periods of sideways trading as the market digests recent gains.
Despite the overbought warning, a bullish golden crossover formation has emerged, with the 50-day EMA crossing above the 100-day EMA. This pattern supports a medium-term uptrend, contingent on SHIB maintaining support above the $0.000014 level.
The next significant resistance for SHIB lies near $0.0000185. Conversely, failure to hold the $0.000014 support could trigger a retest of the $0.000013 price zone.
Sustaining the current upward trajectory will heavily depend on continued high trading volume and SHIB’s ability to hold above the critical 200-day EMA threshold.