đ¶ Shiba Inu Eyes Bullish Breakout: Can It Surpass $0.000015?
Amid the broader market recovery, a bullish resurgence in Shiba Inu teases a jump ahead. Could this leap propel it to surpass the long-lost $0.000015 region?
With a sudden bullish spike in Bitcoin to reclaim the $59K mark, the meme coins are back in action. Amid the recovering segment, the second biggest meme coin reclaims the $8 billion market cap and heads higher.
Will this latest recovery run conclude the long-coming lower high formation in the Shiba Inu price trend?
Strong Bullish Fort at $0.000012
The Shiba Inu meme coin shows a falling channel pattern in the daily chart. Despite a bearish influence, the $0.00001270 support level is acting as a bullish stronghold, avoiding a closing price beneath it.
The support level leads to a sideways trend above this level. Currently, a bear cycle from the 50-day EMA takes early support from this level and concludes the bear cycle with a 3.85% jump on Monday.
Currently, the meme coin is trending at $0.00001364 with a minor pullback of 0.12% from the 24-hour high of $0.00001385. The growing bullish divergence over the constant support range teases a reversal rally.
In the one-hour chart, Shiba Inu shows a trendline breakout rally gaining momentum. The uptrend surpasses the 50 EMA and challenges the 23.60% Fibonacci level at $0.00001379.
Currently, the breakout rally is trapped between the 50 EMA and the 23.60% level at $0.00001379. Thus, the chances of a golden crossover in the hourly chart increase with the recovery run.
