SHIB Technical Analysis: Trendline Breakout Teases 25% Jump

SHIB coin prices surpassed a descending trendline with a price jump of 25% last fortnight. Will the bull run continue to reach the $0.00003215 mark? Key technical points: SHIB prices have inflated 25% in the last two weeks. The memecoin prices sustain above the 100-day EMA. Finally, the 24-hour trading volume of SHIB is $1.825 Million, marking a 51% fall. Past Performance of SHIB SHIB coin prices fell 20% within ten days after the rejection from the 50-day EMA in early March. However, the buyers cushion the fall at $0.00002150 and reignite the bullish trend resulting in a 25% price jump within two weeks. The bullish rally surpasses the descending trendline and shows a retest indicating a potential bullish reversal. Source-Tradingview SHIB Technical Analysis SHIB prices show a higher price rejection in the breakout candles resulting in the trendline retest. However, the retest candle shows a long-tail formation indicating a bullish reversal shortly. The recent reversal shows a reversal in the 50-day EMA, helping avoid the death cross with the 200-day EMA. The prices surpass the 100-day EMA indicating a jump in underlying bullishness. Moreover, the 50-day EMA shows a high possibility of a bullish crossover with the 100-day EMA. RSI Indicator: The RSI slope continues the uptrend but shows a rounding reversal as the prices retest the trendline breakout. Furthermore, the 14-day average shows a parabolic reversal crossing above the ...