SHIB has broken out of a seven-week downtrend, signaling a potential bullish shift.
However, sustained recovery depends on key resistance levels.
The immediate hurdle is the 50-day SMA at $0.0000134, clearing this could confirm short-term bullish momentum. For a stronger uptrend, SHIB needs to surpass the 200-day SMA at $0.000016, which would represent a ~40% rise from current levels.
The RSI remains in bearish territory, suggesting weak buying pressure. A move above 50 would strengthen bullish confidence. Another critical level is the PoC line at $0.0000151, a pivotal point for market structure. The 61.8% Fibonacci level at $0.000014 also acts as key resistance.
On the downside, support lies at $0.0000090. A break below this level could renew selling pressure. For now, SHIB's trend reversal depends on overcoming these resistance zones.