Shiba Inu Price Outlook: SHIB Eyes 15% Surge if Bulls Maintain Momentum

SHIB is up today after the key support defended the price.

Key Support levels: $0.000012

Key Resistance levels: $0.000014

1. SHIB Finds Support

This is the second time SHIB tested the $0.000012 support. So far, buyers look keen to return at these levels and the price turned positive today. If this momentum intensifies as the week progresses, a test of the key resistance at $0.000014 seems likely.

Chart by TradingView

2. Bullish Momentum is Returning

The price has been consolidating at these levels which is giving time for the momentum indicators to turn bullish. For example, the MACD histogram on the daily timeframe is making higher lows and a bullish cross appears imminent if buyers persist.

Chart by TradingView

3. The RSI Is Making Higher Lows

Since the drop in early August, the daily RSI has been making higher lows. Most recently, the RSI has crossed above its moving average which is a bullish signal. If this continues with a breakout above the key resistance, SHIB could rally again.

Chart by TradingView

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