As global financial markets navigate heightened uncertainty stemming from geopolitical tensions and shifting trade dynamics, Shiba Inu (SHIB) has emerged as one of the most resilient altcoins in the cryptocurrency space. Despite a sharp midday selloff, SHIB demonstrated a strong rebound during the evening hours, showcasing impressive momentum.

While many cryptocurrencies remained stagnant or faced downward pressure, $SHIB defied the broader trend by posting a gain of over 5% in a single day—attracting renewed attention from traders and analysts. A key moment occurred around 10:00 PM, when SHIB surged 3.0% amid a notable spike in trading activity, with nearly 900 billion SHIB tokens exchanged within that hour.

24-Hour Technical Analysis

SHIB established a clear trading range between $0.0000139 (daily low) and $0.0000147 (new resistance level), marking a 5.24% price spread over the course of the day. After experiencing a steep afternoon dip, SHIB found significant buying interest near the local low, facilitating a strong recovery.

Nighttime Recovery Sparks Bullish Sentiment

The reversal at 10:00 PM was marked by a sharp rise in SHIB’s price and trading volume, underscoring renewed bullish momentum. Between 1:26 AM and 1:46 AM, SHIB continued its upward trajectory, advancing from $0.00001455 to $0.00001463, accompanied by a trading volume peak of 30.15 billion SHIB tokens. This price action reinforced the bullish outlook, with some analysts viewing it as a potential breakout attempt.

Short-Term Volatility: Channel Formation and Support Levels

In the final trading hours, SHIB experienced mild downward pressure, forming a descending channel and retracing toward $0.00001457. While this may indicate a short-term correction, analysts are closely monitoring whether SHIB can sustain support above the key $0.00001450 level, which remains a critical zone for maintaining bullish momentum.

Market Sentiment and Outlook

The overall sentiment surrounding SHIB remains positive. Contributing factors include increased community engagement, the viral growth of DeFi projects like Mutuum Finance, and SHIB’s historical correlation with Ethereum’s price action. Analysts believe SHIB has the potential to reach the $0.000015 to $0.000016 range in the near term.

On a broader daily chart, SHIB appears to be developing a new bullish structure. The Relative Strength Index (RSI) remains comfortably below overbought levels, suggesting additional room for upward movement. Should SHIB maintain its current trading volume and successfully break through resistance, price targets include the medium-term level of $0.0000178, with a potential retest of the April 2024 high near $0.000020.

Conclusion

Shiba Inu’s recent price action underscores its resilience in the face of broader market uncertainty. Traders and investors continue to monitor SHIB’s performance closely, as it navigates key support and resistance levels.

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