Shiba Inu (SHIB) has traders interested again as the popular meme coin held its ground and stayed above the middle Bollinger Band — a key support level in any market. Sure, it not the most eye-catching move, yet it is a strong statement in its own way.
Right now, SHIB is trading at around $0.00001551, not too far off from last week's 3.4% gain. Meanwhile, the middle band is sitting at $0.00001486.
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You cannot guarantee a rally by staying above it, but that is a good starting point. As long as this level holds, it usually means there is enough buying pressure to keep things from falling apart, and that can open the door for a bigger move.
From a technical standpoint, there is a chance of a push to the upper Bollinger Band, which is currently around $0.00002040. That is where that 32% upside comes in.SHIB has struggled to break through this resistance zone before, so it is a familiar pattern. But as long as the middle band holds, that target stays in play.
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There is still work to be done asSHIB needs to break above $0.00001698 before any serious run can start. Higher resistance levels are at $0.00002052 and $0.00002501. But if it goes the other way, key support will be right where it is now, with even deeper levels near $0.00001107.
For now, SHIB is in a holding pattern — but not a weak one. The price is holding onto its weekly support, volatility is low and the Bollinger Bands are starting to squeeze. That is the kind of setup that will not stay quiet for long.
The question is whether SHIB will break up or break down. Either way, the chart says a move is coming.
