SHIB holds above 21 EMA after a 68% rally, maintaining a bullish market structure.
A breakout above $0.000016 could target resistance at $0.000018 and trigger further gains.
Momentum remains intact as indicators show higher lows and reduced selling pressure.
SHIB recorded a clean breakout from its previous descending channel, delivering a 68% move before beginning a measured pullback. At the time of writing, SHIB was trading at $0.00001450. The token reclaimed the 21-day EMA, and maintaining this level keeps its bullish market structure intact.
Bullish Structure Holds as Traders Watch Support Zones
Shiba Inu’s move above the 21 EMA signals a key structural shift. After reaching $0.000017 earlier in the week, the price has cooled slightly. According to analysis prepared by Henry on X, token burns and Shibarium adoption continue to support the long-term trend, with analysts projecting up to a 136% price increase by October.
Despite a temporary decline in trading volume and open interest, short-term technicals remain supportive. The RSI currently shows a neutral setup, while the Parabolic SAR dots are still below the current price level at $0.00001435. This placement confirms that the upward momentum is still active, even as volume contracts.
Break Above $0.000016 May Trigger Test of Sell Wall at $0.000018
SHIB is compressing above dynamic support at the Donchian Channel midline of $0.00001498. If bulls manage to push the price past $0.000016 with rising volume, the next test will likely be the resistance at $0.00001765.
https://twitter.com/SHIBpossessor/status/1922687365564322168
A clean break from there could lead to more upside. According to an observation by CW8900 on X, SHIB may rally as high as $0.00028 if it clears the sell wall around $0.000018.
While the BBTrend indicator shows signs of declining momentum, the narrowing Klinger divergence and consistent higher lows suggest a continuation is still possible. Price action remains constructive as long as SHIB holds above the 21 EMA and avoids closing below the support at $0.00001435.
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