Shiba Inu price stabilizes at $0.00001440 as breakout looms
Shiba Inu consolidates within a descending triangle, targeting a breakout above $0.00001475
Shiba Inu (SHIB) is holding steady at $0.00001440, maintaining control above the psychological $0.00001400 level as traders await the resolution of a tightening price range. After weeks of narrow trading, SHIB has coiled into a descending triangle formation, suggesting an imminent move.
Highlights
- Shiba Inu consolidates in a descending triangle, with support near $0.00001405 and resistance at $0.00001475.
- A breakout above $0.00001475 could push SHIB toward $0.00001580 and $0.00001590.
- A failure to hold $0.00001400 risks a dip to the $0.00001360–$0.00001325 range.
As volatility contracts, a significant price move could follow within the next 24 to 48 hours, potentially confirming the next directional bias.
Technical setup points to breakout potential
Over the past five days, SHIB has been consolidating within a descending triangle on the 4-hour chart. Support at $0.00001405 has held through multiple retests, while resistance remains capped at $0.00001475.
This ongoing compression indicates accumulation, with traders expecting a resolution soon. On the daily chart, SHIB shows a higher low from April converging with a lower high from early May, forming a symmetrical pattern often associated with breakout volatility. The apex of this triangle is expected to define SHIB’s next move.
SHIB/USD price analysis (Source: TradingView)
Momentum indicators are showing mixed signals, hinting at a possible short-term bounce. On the 30-minute chart, the RSI has cooled to 53, providing bulls with a chance to recharge. Meanwhile, the MACD has shown a bullish crossover, with the histogram turning positive and indicating a shift in short-term trend bias. The Stochastic RSI, however, has reset from overbought levels, suggesting minor pullback potential unless momentum reaccelerates.
Resistance levels to watch for breakout
The latest Shiba Inu price update shows the coin reclaiming the 50 EMA on the 4-hour chart near $0.00001452, now serving as immediate support. On the upside, the breakout zone remains at $0.00001475–$0.00001500. A sustained move above this resistance could trigger a rally toward the $0.00001580 mark, followed by a Fibonacci extension target near $0.00001590. However, if SHIB loses the $0.00001400 handle, it may retest the $0.00001360–$0.00001325 support zone.
The rise in Shiba Inu price today appears to be driven by a broader improvement in altcoin sentiment following Ethereum's push above $2,700. SHIB often mirrors Ethereum's performance due to strong retail correlations and liquidity flows. Additionally, recent on-chain data points to modest whale accumulation over the past two days, which may indicate strategic positioning ahead of a potential breakout.
As discussed earlier, Shiba Inu has been in consolidation, with a key resistance at $0.00001475. A breakout above this level could pave the way for further upside targets, including the Fibonacci extension near $0.00001590. Failure to break above this resistance could lead to another dip toward support levels around $0.00001360–$0.00001325.
