Shiba Inu (SHIB) Gains Momentum After Holding Crucial Support on 2-Day Chart

Shiba Inu claws back from the brink—and traders are taking notice.

The Technical Turnaround

Forget the memes for a moment. The SHIB chart just told a serious story. After flirting with a critical breakdown level, the price didn't just bounce—it held firm. That's the kind of action that shifts sentiment from fear to a cautious, calculating greed. The 2-day timeframe isn't for the faint of heart; it filters out the noise and shows where the real battle lines are drawn. Holding that support wasn't luck—it was a market vote.

Momentum Builds on a Foundation

This isn't a random pump. Momentum needs a launchpad, and a defended support level provides exactly that. It gives algorithmic traders a clear signal and gives the retail crowd the confidence to jump back in. Watch for volume to confirm the move—thin rallies fade, but conviction sticks. The next resistance levels are now in sight, and each one will test whether this is a dead-cat bounce or the start of a legitimate leg up.

The Bigger Picture Play

In a sector where 'fundamentals' can mean a celebrity tweet, technicals often provide the only reliable script. SHIB's ability to hold here speaks to a stubborn, underlying demand—perhaps a reminder that in crypto, the 'dog' sometimes outruns the thoroughbreds. It's a classic setup: find the level everyone is watching, defend it, and then run. Just another day in the market where the lines on a chart are often more truthful than the white papers.

So, the meme coin grows up? Not quite. But it's learning to fight like a grown-up—holding its ground when it matters most. Now, the momentum has to prove it's more than just a fleeting spike of adrenaline before the next bout of existential dread that plagues every asset without a CEO. Onward.

Shiba Inu Signals Potential Reversal

Crypto analyst GainMuse noted that SHIB had just bounced out of a wide-ranging base and was tightening above a rising support line. According to that analyst, while the bearish scenario is possible, there is a good chance that a reversal towards a bullish MOVE may occur.

Shiba Inu Nears Bullish Breakout

Moreover, another analyst, Butterfly, pointed out the establishment of support for SHIB at the bottom of the descending channel in the 2-day chart. The important level seems to be doing well, with a rise in buying pressure being observed.

With these technical indicators in place, it appears that SHIB is on the verge of a potential bullish move. Investors and supporters are eagerly watching the developments because the token seems to be on the verge of rising to even greater heights.

SHIB Trend Remains Bearish Overall

The value for RSI is seen at 33.54, remaining below the mid-level of 50, indicating weaker buying momentum, while its average is close to 39.05, indicating there is no recovery. The MA Ribbon plot using 20, 50, 100, and 200 SMA is stacked negatively, as all important Moving Averages are below the price.

On the MACD (12, 26, 9) chart, the MACD is below the signal line, and both are trading in negative territory. However, the histogram is slightly red, which indicates that the bearish momentum is also present, although the selling momentum is not accelerating quickly. Therefore, based on the MACD index, weakness is also continuing, and there is no indication of a reversal.