Shiba Inu has recovered from its descending channel, showing accumulation signals and potential to rally toward the $0.00001750 resistance zone.
RSI rebounds from oversold territory, and SHIB consolidates above support.
Technical indicators like RSI show growing momentum with targets at $0.000022 and $0.000039.
Shiba Inu is resurgent due to the breaking of its long-term downward trend. At this point, price is testing things out at a major support level, which indicates that traders are quite likely to see momentum reversals as some buyers re-enter the market.
SHIB Gains Strength After Key Channel Breakout
Shiba Inu broke above the descending channel on the daily timeframe. The breakout follows repeated testing support between $0.00001050 and $0.00000978. Each time the price reached this zone, a sharp rebound followed. Currently, SHIB trades near $0.00001205 with moderate volume and a 2.76% weekly gain.
Jonathan Carter noted this channel breakout on the daily chart, showing accumulation near the breakout zone.
https://twitter.com/JohncyCrypto/status/1952692807644107005
The 50-day moving average now lies below the current price. The RSI indicator rebounded from oversold conditions and is now hovering around 46. Volume remains steady, showing neither exhaustion nor excessive sell pressure.
The daily chart depicts resistance at 0.00001400, 0.00001750, 0.00002050, and 0.00002500. SHIB formed a higher low above support and is consolidating with a bullish structure. The visible range volume profile (VRVP) shows liquidity building between $0.00001250 and $0.00001500.
Wyckoff Insider and CryptoBasic Back Bullish Outlook
Crypto analyst Wyckoff Insider, via TheCryptoBasic, confirmed a bullish formation using SHIB’s weekly chart. Weekly candles in this zone closed higher, showing strong buying interest. A reversal may be underway toward target one (TP1) at $0.000022107.
https://twitter.com/thecryptobasic/status/1952723212048965865
TP2 stands at $0.000039005, the peak from March 2025. Weekly volume remains low, indicating quiet accumulation. However, each dip into the green demand zone triggered a bounce. SHIB remains in a multi-month consolidation between $0.00000980 and $0.00001400.
Wyckoff Insider points to two key profit zones—TP1 and TP2—aligned with historical resistance levels. For bullish continuation, SHIB needs a weekly close above $0.00002210 with high volume. Until that happens, the price stays range-bound.
In summary, SHIB holds technical strength and shows bullish potential. Analysts are watching closely for confirmation above resistance levels.
The post Shiba Inu (SHIB) Signals Breakout: Analysts Eye $0.000022 and $0.000039 Targets appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
