Shiba Inu breaks trendline resistance: watch SHIB retest $0.000055 for $0.000065 upside
Shiba Inu (SHIB) has broken above a descending trendline resistance after weeks of consolidation, a technical shift that traders interpret as early reversal potential. The article notes that confirmation likely needs sustained follow-through; otherwise, SHIB could slip back into a range.
Momentum signals are mixed in the short term. The RSI has bounced from an overbought area, while stochastic RSI suggests a possible pause or brief correction before any bullish continuation. Traders are therefore watching a retest near the $0.000055 zone. The $0.000055 area is also framed as a potential liquidity pool where a liquidity sweep could “squeeze” weak hands and rebuild order flow.
On-chain and flow data are supportive. Over the past 48 hours, SHIB recorded positive exchange inflows totaling about 800 billion SHIB (around $4.8M at the time of writing). The interpretation is that new capital may be entering exchanges with intent to take long positions during a pullback.
Next key levels highlighted: $0.000055 as the pivot for the retest, and $0.000065 as the next upside target if buyers defend the retest and follow through on the breakout. The piece stresses risk management because short-term volatility and a retest failure could send SHIB back into consolidation.
Bullish
The news is bullish because SHIB has already cleared a key descending trendline resistance, which typically improves the odds of trend reversal. Additionally, positive exchange inflows (about 800B SHIB over 48 hours) suggest incremental demand that can support a continuation move after a pullback.
However, the article explicitly flags short-term caution: RSI has bounced from overbought and stochastic RSI points to a possible pause/correction. This resembles common breakout behavior where price first retests the breakout level (here, ~$0.000055) to confirm supply/demand balance. Traders often enter after the retest holds; if it fails, price frequently falls back into consolidation.
Short-term impact: higher probability of a volatility-driven retest toward $0.000055, with liquidity-sweep dynamics potentially accelerating both the drop and the rebound. Long-term impact: if follow-through emerges and $0.000065 becomes achievable, the breakout could mark a broader structural shift, attracting momentum traders and sustaining elevated volume. Overall, the setup is constructive but conditional on buyers defending the retest zone.