Summary
TLDR: Shiba Inu (SHIB) price broke out from a 560-day descending resistance trend line, reaching a high of $0.00000147. Weekly RSI supports the breakout, indicating a bullish trend. Daily analysis shows price has yet to move outside its long-term ascending parallel channel, but RSI has turned bullish. Potential 35% increase to $0.0000180 if breakout confirmed, but rejection could trigger a 15% drop to $0.0000110.
Key Points
1. The Shiba Inu (SHIB) price broke out from a 560-day descending resistance trend line and is attempting to close above it.
2. Despite the long-term breakout, SHIB faces resistance on the lower timeframes.
3. The weekly Relative Strength Index (RSI) supports the breakout, indicating a bullish trend.