Shiba Inu (SHIB) has decisively broken above its 26-day Exponential Moving Average (EMA) near the $0.0000118 price level, suggesting a possible renewal of bullish momentum. This technical breakout signals a shift in market dynamics and improved trader sentiment, potentially ending the token’s recent consolidation phase.
Technical analysis reveals significant indicators supporting further upside potential. The convergence trend between the 26-day and 50-day EMAs indicates SHIB may be preparing for a decisive break from its range-bound pattern. Critical resistance now stands between $0.0000124 and $0.0000130, with a successful breach potentially driving SHIB toward the $0.0000145 target level.
The Relative Strength Index reading of 51 provides additional confirmation, showing ample room for upward movement before reaching overbought conditions. This technical breakout aligns with broader positive momentum across the altcoin market, as evidenced by increasing activity reflected in the Altcoin Season Index.
Market observers note that reclaiming the EMA threshold historically correlates with renewed investor confidence in the meme token. Continued bullish momentum may test significant technical barriers in the coming sessions, dependent on sustained buying pressure across cryptocurrency markets.