Usman Salis
Shiba Inu (SHIB) has been stuck in a downward trend for weeks, but that's finally changing. The popular meme coin just broke through a key resistance level that had been holding it back, and traders are getting excited about what might come next. This technical breakthrough could be the spark that sends SHIB higher in the coming days.
SHIB Breaks Key Downtrend Line
Shiba Inu is currently trading around $0.00001288, having decisively broken above a descending trendline that kept prices suppressed for weeks. Trader CRYPTO SHIB notes that this breakout has generated considerable bullish sentiment as the community watches for the next move higher.
The break above this critical level suggests that selling pressure may finally be exhausting itself, opening the door for renewed buying interest.
Chart Analysis: Technical Setup
The technical picture is looking increasingly positive for SHIB holders. The yellow trendline on the 4-hour chart shows how the token finally overcame weeks of sustained selling pressure. What makes this breakout particularly encouraging is how price action has behaved since the initial break – after briefly retesting the breakout level, SHIB bounced higher, which reinforces the strength of the move and suggests this isn't just a false breakout.
The breakout region around $0.00001270 to $0.00001280 has now flipped from resistance to support, giving bulls a solid foundation to build upon. If the current momentum continues, SHIB could advance toward the $0.00001350 to $0.00001400 range, with extended potential reaching near $0.00001600 if buying pressure really picks up steam.
Why SHIB Could Rally Further
Several factors are lining up to support this bullish setup. There's renewed enthusiasm around meme coins in general, and SHIB often acts as a bellwether for sentiment in this sector. The breakout itself confirms what looks like a trend reversal pattern, which tends to attract technical traders who follow these kinds of signals.
Beyond the technical aspects, the broader crypto market has been showing signs of optimism lately, which typically boosts appetite for more speculative assets like meme coins. When risk sentiment improves across the crypto space, tokens like SHIB often see outsized moves as traders chase higher returns.
Usman Salis
