Shiba Inu Breaks Out on 100-Day Moving Average - What's the Next Trend?

Shiba Inu has just had a significant breakthrough by surpassing the 100-day SMA, sparking optimism among investors. This event could mark a major shift in SHIB's market structure, opening up growth opportunities if this momentum continues. Strong Growth Signal The moving average acts as dynamic support and resistance levels in technical analysis. When an asset crosses above the 100-day moving average and stays above it, it often signals a potential uptrend. In the case of SHIB, if the price maintains above this level, it could stimulate interest from investors and push the price towards higher resistance levels. However, to confirm a trend reversal, SHIB needs to maintain this momentum in the next trading sessions. If the price does not hold above the 100-day moving average, selling pressure may return and cause SHIB to revisit key support areas. Who Is in the Buyer's Favor? The price of SHIB rising above the 100-day SMA indicates a change in market sentiment, as buying pressure begins to outweigh selling pressure. Increasing trading volume and continued price growth could push SHIB into a new bullish phase, challenging the control of the sellers. Technical indicators are also supporting the buying side, with MACD and signal line maintaining above the 0 level, signaling positive momentum. If SHIB continues to maintain its upward trend, it might test important resistance levels such as: $0.00001703 - The nearest resistance level that needs to be broken to strengthen the uptrend. $0.00002045 - If surpassing the $0.00001703 level, SHIB could target a higher resistance area. $0.00002631 - A significant price level that could confirm a strong breakout if SHIB maintains the uptrend. Important Support Zones If SHIB Adjusts In case SHIB faces selling pressure and price decline, the following support zones will play a crucial role in maintaining the uptrend: 100-day SMA - Has turned into a significant support. If the price continues to hold above this level, the buying side will have an advantage. $0.00001272 - This is the nearest support area, where buyers can step in to maintain the price. $0.00000847 - If SHIB falls further, this will be the final important support area to prevent the price from falling into a long-term downtrend. Holding these support zones will help SHIB maintain its upward trend and avoid the risk of sharp decline. Summary The breakout of Shiba Inu above the 100-day moving average is an important signal indicating strong growth potential. However, to confirm the uptrend, SHIB needs to hold above this level and overcome key resistance areas. If the growth momentum continues, higher price targets may be achieved. Conversely, if SHIB fails to hold crucial support, selling pressure could return and put pressure on the price. Investors should closely monitor the next developments to make informed decisions in their trading strategy.