$SHIB is trading higher with solid support between $0.00001265 and $0.00001270.
Despite global geopolitical uncertainties, SHIB has emerged as a resilient performer in the crypto market.
The token failed to hold above the 100-day simple moving average (SMA), settling at $0.00001317, up 2.9% over the past 24 hours.
The token has shown signs of strength, gaining ground over the past 24 hours. However, the bullish momentum appears to be limited. While buyers have managed to build a reliable support zone, the token struggled to sustain gains above key resistance levels.
$SHIB established a firm support range between $0.00001265 and $0.00001270, suggesting increasing confidence among buyers. This has occurred amid broader market turbulence caused by geopolitical tensions and shifting global trade dynamics—conditions under which SHIB has unexpectedly thrived.
However, despite these favorable developments, SHIB failed to maintain its position above the 100-day simple moving average (SMA) at $0.00001332. It eventually closed at $0.00001317, marking a 2.9% gain on the day but still falling short of a decisive breakout.
The broader technical picture remains mixed, with the downtrend from the May 12 high still in place, tempering bullish enthusiasm.
Key Technical Insights
Support Level: Buyers consistently defended the $0.00001267 level during early trading hours.
Uptrend Formation: Price action demonstrated an uptrend with higher highs and higher lows, breaching resistance at $0.00001294 and $0.00001313.
Volume Spike: A brief consolidation between 01:07 and 01:34 set the stage for a breakout at 01:35, marked by the day’s highest volume of 14.6 billion.
Local High: SHIB reached a new local high of $0.00001345, forming a clear ascending channel.
Profit-Taking: Some selling pressure emerged as trading volume tapered in the final minutes, suggesting short-term resistance, though the overall structure remains bullish.
