Shiba Inu price attempts to rebound.. Will it surpass the resistance of $0.00001311?
The Shiba Inu (SHIB) coin is witnessing a new rebound attempt following a corrective wave that affected most altcoins. Investors are now closely monitoring the key resistance level at $0.00001311, which has previously proven to be a tough barrier to break through.
📊 Technical Analysis:
The technical indicators show a gradual improvement in upward momentum.
The nearby support level is around $0.00001250, which represents the current launchpad.
Breaking the current resistance could pave the way towards levels of $0.00001420 and then $0.00001500.
🧠 Why is this level important? The level of $0.00001311 is considered a convergence area between moving averages and previous peaks, making it a critical testing point for buyer strength.
🔔 Are we witnessing a breakout? If the liquidity flow continues and risk appetite in the market rises, SHIB may succeed in breaking the resistance and recording a new upward wave. However, failure to do so may lead to a retest of support levels.
📌 Tip: Monitor the trading volume – it is the key to any real breakout.
