Peter Smith
Shiba Inu (SHIB) posted a 1.84% jump today, but traders are still waiting for stronger signals before calling it a proper bull run.
Shiba Inu (SHIB) Finds Its Footing Above Key Support
SHIB's having a decent day with that 1.84% bump, and it's not just random noise. The meme coin has been holding strong above $0.00001312 support on the hourly charts, which is actually pretty encouraging if you're betting on the bulls. Right now, SHIB's sitting at $0.00001353, and according to CoinMarketCap, there aren't any major reversal signals flashing yet.
What's interesting is how SHIB managed to bounce back from that $0.00001312 level. It's like the token found its groove there and decided to stick around. If the bulls can keep this momentum going, we might see SHIB test some higher levels by tomorrow – at least that's what the hourly action is suggesting.
SHIB's Weekly Outlook Looking Pretty Bullish
Here's where things get more exciting for SHIB holders. The bigger picture is actually looking quite bullish, especially if we're talking about the weekly timeframe. The key level everyone's watching is that $0.00001344 resistance. If SHIB can punch through that barrier, there's enough built-up energy to potentially push it all the way to $0.000014.
That's not just wishful thinking either – the technical setup suggests this scenario could play out before the week wraps up. Of course, crypto being crypto, anything can happen, but the charts are painting a pretty optimistic picture for SHIB right now.
Shiba Inu (SHIB) Might Stay Quiet for a While
Now, before you get too excited, let's talk about the elephant in the room. From a medium-term perspective, SHIB isn't really near any major support or resistance levels that would trigger big moves. What does this mean? Well, don't expect any crazy fireworks in the coming weeks.
The token's kind of in this middle ground where it's not close enough to key levels to cause major drama. So while the short-term looks promising, SHIB traders might need to be patient if they're hoping for those wild swings that meme coins are famous for. Sometimes the market just needs time to build up steam before the next big move.
Peter Smith
