Shiba Inu (SHIB) Technical Analysis: Buyers Return, Bullish Trend Confirmed

Shiba Inu (SHIB) correction is over and buyers are aiming for a new top. Here are some technical indicators as to why SHIB is rising today:

1. Buyers Returned

- Main support level: $0.000025

- Main resistance level: $0.000037

The main support remained firm at 0.000025$ and did not allow SHIB price to fall further. This encouraged the bulls to bounce back. As of yesterday, the purchasing volume increased and the price increased.

2. Next Step to Break Major Resistance?

If the current rally can be sustained, SHIB could test the major resistance at $0.000037 for the second time. Usually in a bull market the second try is successful. There's still some way to go to reach that goal, but this "meme coin" is known to move quickly once buyers return.

3. MACD Confirms Bullish Trend

Similar to Ethereum, Shiba Inu also executed a bullish crossover on the 12-hour MACD, confirming buyers' dominance. This may soon see the price test local resistance, followed by new highs.