Shiba Inu price holds above $0.00001690 as bulls eye potential breakout
SHIB trades near $0.00001690 after trendline breakout
Shiba Inu (SHIB) price today is trading near $0.00001690, extending a 7% rally that began on May 9 after breaking out of a multi-week descending trendline. The surge lifted SHIB through multiple key resistance levels, including $0.00001600, and has reshaped the technical structure into a bullish formation.
With volume expanding and green daily candles stacking, investor sentiment is growing increasingly optimistic about further upside.
On the daily chart, SHIB has posted higher highs on strong follow-through buying, and the price is now pressing against the $0.00001750 resistance zone. This level represents the final barrier before potential continuation toward higher Fibonacci retracement targets at $0.00001850 and $0.00002026. These zones mark critical pivots from the broader downtrend traced from the 2024 peak to the 2025 trough.
Shiba Inu price dynamics (May 2025) Source: TradingView.
Momentum indicators suggest trend strength but flag short-term caution
Despite the ongoing rally, momentum tools suggest traders should remain watchful for short-term overextensions. On the 30-minute chart, the Relative Strength Index (RSI) is holding above 65, while the 4-hour RSI is nearing 71—levels typically associated with strong momentum but also with elevated pullback risk. At the same time, MACD readings on both timeframes remain positive, with widening histogram bars signaling sustained buying pressure.
Bollinger Bands are widening sharply, and price is riding the upper band—a typical precursor to either consolidation or a minor pullback. As such, $0.00001650 emerges as an important short-term support, while the 4-hour 20 EMA near $0.00001560 continues to provide dynamic backing for the uptrend.
Ichimoku Cloud analysis also confirms a bullish bias, with SHIB firmly trading above the cloud and supported by a Tenkan-Kijun crossover. As long as the price remains above the $0.00001600–$0.00001650 range, the bullish case remains intact heading into May 13.
SHIB price forecast for May 13: Trend favors bulls, but consolidation risk lingers
Heading into May 13, SHIB remains in a technically favorable position. The current setup suggests that a sustained close above $0.00001750 could lead to an acceleration toward $0.00001850 and $0.00002026. However, any slip back below $0.00001600 could introduce volatility and open the door to consolidation around $0.00001500–$0.00001560.
As discussed in our earlier analysis, the breakout above the descending trendline and reclaim of the $0.00001600 barrier signaled a major shift in SHIB’s momentum. With risk appetite returning to the meme coin segment, SHIB’s next move above $0.00001750 will determine whether bulls remain in command or if a short-term cooldown is due.
