$SHIB Holds Gains but Faces Overhead Resistance – Will Momentum Continue?
SHIB/USDT is trading at 0.00001274, posting a slight +0.79% gain on the day. The meme coin hit a 24-hour high of 0.00001295 and a low of 0.00001230, with 1.12 trillion SHIB and 14.11M USDT exchanged.
The current price is hovering just under short-term moving averages: MA(7) is at 0.00001276, MA(25) at 0.00001280, and MA(99) at 0.00001260. SHIB is squeezed between its MA(25) and MA(99), suggesting indecision and possible consolidation.
Volume remains strong, but price action shows rejection near the highs, hinting at resistance pressure. A close above 0.00001280 could set up a retest of 0.00001300+, while failure to hold above 0.00001260 may trigger a retest of 0.00001240.
Summary: SHIB is holding its ground but needs a clear breakout above resistance to attract new bullish momentum.