Shiba Inu (SHIB): Massive Fight for Bull Run Chance Begins Now

SHIB/USDT Chart by TradingView

Near $0.0000120, the coin recently recovered from its ascending trendline and pushed upward toward the $0.0000135 zone, which is where the upper boundary of the symmetrical triangle and the 100 EMA converge. Volume, which is an important confirmation metric for breakouts, has also started to rise noticeably, suggesting that large-scale or institutional traders may be setting up for a directional move.

It is important to pay attention to this level of activity, because in the past, comparable volume surges have preceded significant upward rallies or violent rejections in SHIBs price history. The months-long downward trend that has dominated since mid-summer could be put to an end if SHIB is able to decisively break above $0.0000135, which could lead to $0.0000140-$0.0000150.

Shiba Inus technical state

At roughly 55, the RSI is still moderate, indicating that more upside is possible before overbought conditions develop. That being said, there is no guarantee of a bull market. If the $0.0000125-$0.0000120 support range is not maintained, sentiment may swiftly turn bearish once more, pushing the token back toward the $0.0000115 region and potentially resuming the downward grind.

The fight for momentum is currently taking place in real time. Whether Shiba Inus most recent recovery attempt becomes the start of a bull run or just another false breakout in a tightening consolidation zone will be determined by the last few daily closes. Traders should be ready for increased volatility in the upcoming sessions, in either case.