Shiba Inu SHIB technical analysis

SHIB trades at $0.00000551, up 5.17% in 24 hours. On the 4-hour chart RSI14 at 71 indicates overbought momentum, while the daily RSI14 of 53 suggests a milder uptrend, supported by price above SMA20 at 0.000005195.

Price is currently battling the support zone 0.00000553-0.0000056, which has been touched four times on the 4-hour timeframe. Above, resistance sits at 0.00000557164-0.00000558835 (two daily touches) and then 0.00000574164-0.00000575836, tested once on both frames.

Bulls need to hold price above the four-touch support and push through the 0.00000557164 resistance to target higher levels. Bears need a break below 0.00000553-0.0000056, which would expose the once-touched 0.00000546165-0.00000547836 support and the rising trendline near 0.00000520786.