SHIB confirms MACD bullish divergence, signaling a potential 180% move toward $0.000032.
Price structure shows base formation with support at $0.0000112 and resistance near $0.0000120.
RSI uptrend, stable volume, and rising holders support the case for continued upward movement.
Shiba Inu (SHIB) has confirmed a bullish divergence on its MACD indicator, suggesting a potential 180% upside move toward the $0.000032 level. This setup may indicate the beginning of a broader trend reversal as momentum and technical patterns align with previous breakout phases in SHIB’s trading history.
MACD Divergence and Current Market Structure
According to analysis prepared by Javon Marks, SHIB’s MACD has formed a clear bullish divergence, with the MACD line crossing above the signal line while price action continued downward. This formation typically signals a shift in market momentum, especially when combined with higher lows on the MACD histogram.
https://twitter.com/JavonTM1/status/1941653689434787893
Data from CoinMarketCap shows that SHIB is trading at $0.00001179 as of July 6, with a market cap of $6.94 billion. The daily trading volume stands at $99.32 million, reflecting stable investor participation. The number of SHIB holders remains around 1.51 million, showing sustained community engagement. Price support is visible near $0.0000112, with resistance forming at $0.0000120 during the week’s trading.
According to an observation by CryptoSmith, SHIB is now forming a similar setup to the one seen before its previous 500% move. The price structure is showing signs of a base formation, with the MACD divergence appearing on both daily and 4-hour timeframes. These signals are often seen before strong upward moves in momentum-driven assets.
Resistance Targets and Technical Confirmation
The major resistance levels are at the price areas below 0.000014, 0.000021, and 0.000028 with 0.000032 being a major reclaim point. In case SHIB manages to break and maintain levels above the current price of $0.0000120, more upside can be derived going by historical market trends.
SHIB has closed the past week with higher lows, while RSI remains in a rising trend without hitting overbought territory. Combined with consistent volume and a stable market cap, this supports the case for continued upward movement. The current divergence setup could be the start of a larger trend reversal, as seen in previous SHIB rallies.
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