Shiba Inu price targets $0.00001660 resistance as bullish momentum builds
Shiba Inu price remains trapped below $0.00001660 resistance
Shiba Inu price today is trading near $0.00001630, marking a modest recovery after bouncing between $0.00001550 and $0.00001650 over the past week. The asset has found itself in a critical confluence zone, as buyers have consistently defended the $0.00001580–$0.00001600 support band, indicating strong demand.
This pattern has led to a narrowing range, with Shiba Inu testing key resistance levels and looking poised for a potential breakout toward $0.00001660.
Shiba Inu price dynamics (May 2025) Source: TradingView.
Technical strength builds for SHIB
The recent technical setup is favorable for a potential upward move. An ascending triangle breakout from early May, followed by a bull pennant formation on the 30-minute chart, highlights the growing momentum. The price remains above the 0.236 Fibonacci retracement at $0.00001533 and is now targeting the 0.382 level near $0.00001911. Key indicators show strengthening support, with Shiba Inu continuing to trade above all key exponential moving averages (EMAs)—20, 50, 100, and 200. This is a clear sign of sustained upward momentum.
The 30-minute RSI, currently at 56.50, suggests steady accumulation without signs of being overbought. Additionally, MACD has recently crossed into bullish territory, providing further confirmation that the momentum is shifting in favor of bulls. If volume increases above $0.00001650, the asset could push toward $0.00001730, with the $0.00001911 target in sight.
Resistance at $0.00001660 key level to watch
Despite the positive technical indicators, the $0.00001660 resistance remains a critical hurdle for Shiba Inu. A decisive break above this level, coupled with volume support, could open the door for a further rally toward $0.00001730 and $0.00001911. However, failure to clear this resistance could invite a near-term pullback, with the $0.00001600–$0.00001580 demand zone serving as crucial support.
As previously discussed, Shiba Inu’s price continues to hover below $0.00001660, with the next key move hinging on breaking through this critical resistance. Traders are watching closely for any signs of increased volume that could confirm a breakout.
