Shiba Inu (SHIB) surges 2.8% breaking 2025 downtrend

Shiba Inu (SHIB) has experienced a notable surge, with its price increasing by 2.8% over the past 24 hours, currently trading at $0.00001369. This upward movement marks a significant breakout from a descending trendline that has been constraining prices since January 2025. The breakout is evident on the daily chart and follows a period of accumulation below the resistance level.

The recent price action has shifted market attention towards the key resistance level at $0.00001409, which is now within immediate reach. This breakout is accompanied by a steady increase in volume and volatility. The support level at $0.00001313 has remained intact after multiple retests since the end of June. Price movements have been confined within this range since April, with recent prices testing the upper boundary of this established range.

Technical indicators support the ongoing short-term strength of SHIB. The Relative Strength Index (RSI) stands at 57.26, indicating moderate upward momentum without reaching an overbought situation. Additionally, the Moving Average Convergence and Divergence (MACD) line has crossed above the signal line, further reinforcing the bullish sentiment in the short term. These indicators collectively support the break above the downtrendline on the daily chart.

The immediate resistance level at $0.00001409 is crucial, as it has previously capped rallies in late May and early July. If the price manages to sustain momentum beyond this level, the next resistance area could extend up to $0.00001717, based on historical rejection levels. However, the short-term focus remains on the range between $0.00001313 and $0.00001409. This zone will determine whether the momentum continues or stalls. The price has held above the lower bound of this range, reflecting short-term strength.