- SHIB has climbed by 6.8 per cent this week and is at $0.0000126 and is consolidating above its support of $0.00001224.
- The nearest resistance is $0.00001269 and $0.00001279 and the price action has been hesitant but the direction is upward.
- The volumes of trading at the latest highs indicate long-term interest in buyers and their attention to the testing of short-term ceilings.
Shiba Inu (SHIB) has begun the month of October with a consistent upward trend and is performing well on the day chart. The token is currently trading at 0.0000126, or an increase of 6.8 percent in the last week. The momentum has not died because the asset is trading close to the resistance, taking SHIB at a critical range.
Support Levels Hold as Buyers Maintain Control
The 24-hour chart shows SHIB consolidating above the $0.00001224 support level. This base has provided stability against selling pressure while allowing buyers to sustain higher ground. The token also trades closely against Bitcoin at 0.091056 BTC, recording a 0.3% gain. Against Ethereum, SHIB holds 0.082860 ETH with a 0.1% increase. These figures highlight broader market strength as the token keeps gains intact.
Resistance Levels Define Short-Term Boundaries
It is important to note that SHIB is at direct resistance at $0.00001269. The recent session price activities have been close to this ceiling, but there is a lack of momentum yet with an upward bias. The next resistance is at a higher point of $0.00001279, which places more weight in the trading zone that is currently in place.
In the event that these levels are successful, SHIB is likely to consolidate yet again, but the asset is still within a bullish range. Moreover, the price has been moving in an intraday trend in a small range, that sellers could not break.
Momentum Points to Sustained Market Activity
The technical perspective highlights the significance of the support level of the 0.00001224 which has already been put to test and supported. With as long as the level is held, the way to resistance is open. Active participation by the buyers is also indicated by current positioning around $0.00001258 with candles in the day chart headed higher.
Meanwhile, the market has also recorded better trading volumes in recent peaks, which is also following the current positive trend. This exercise shows that it remains robust, and the concentration in the near future is pegged on the upper resistance levels at $0.00001269 and $0.00001279.
SHIB maintains steady momentum as support levels hold firm and resistance zones tighten. With trading volumes strengthening, the market focus remains on upcoming tests of short-term ceilings to determine direction.
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