Shiba Inu (SHIB) Breaks 20-Week MA, Eyes 20% Rally
Shiba Inu (SHIB) has closed above its 20-week moving average at $0.00001334 after rebounding from the $0.00001200–$0.00001300 support zone. The weekly candle is approaching the upper Bollinger Band at $0.00001554, signaling a potential 20% rally. Bollinger Bands are widening, indicating rising volatility. This breakout also invalidated a bearish trendline from May, reinforcing bullish momentum. Traders should watch for volume spikes to confirm sustained buying pressure. Key resistance near the April highs at $0.00001550 must be overcome to extend the rally; failure to hold the demand zone could trigger consolidation or a pullback. Overall, Shiba Inu’s technical setup offers a favorable entry point for traders seeking a breakout play.
Bullish
The breakout above the 20-week moving average—cleared for the first time in two months—alongside a climb toward the upper Bollinger Band points to renewed bullish momentum and higher volatility. Historical retests of the support zone have preceded significant rallies, and a 20% gain target aligns with the upper band level. Traders will monitor volume spikes to confirm sustained buying pressure. Overcoming resistance near the April highs would further validate the uptrend, making this setup attractive for both short-term breakout plays and longer-term positions if bullish indicators persist.