Posted 2/27/2024, 8:30:00 PM
Shiba Inu Gears Up for Possible Breakout After Testing Resistance for Nearly 2 Years
- Shiba Inu (SHIB) is attempting to break out from a 570-day descending resistance line after 3 previous rejections
- SHIB is trading close to multiple diagonal resistance levels on the weekly and daily charts
- The weekly RSI is bullish, supporting a potential breakout for SHIB above $0.0000128 (+25%)
- Failure to break short-term resistance could see SHIB fall to support at $0.0000080 (-25%)
- Good potential for a SHIB breakout based on current price action and momentum indicators