<em><strong>According to the technical analysis, SHIB prices show a bullish reversal from the $0.000011 mark that may shortly overcome the supply zone at the $0.000013 mark. </strong></em>

The post-retest reversal in the SHIB prices failed after facing opposition at the $0.000014 resistance level resulting in a bearish turnaround. The correction face breaks below the 50-day SMA before taking support at the $0.000011 support level to reclaim the bullish trend. So, should you consider entering the reversal rally?
<h3>Key Points:</h3>
<ul>
 	<li>The SHIB price action retests the broken $0.000013 supply zone in the daily chart.</li>
 	<li>The RSI slope shows a reversal ready to cross above the halfway line.</li>
 	<li>With a market cap of $6.95 billion, the intraday trading volume of <a href="https://www.cryptoknowmics.com/news/shiba-inu-revealed-the-name-of-a-much-anticipated-video-game-project/" target="_blank" rel="noopener">Shiba Inu</a> has increased by 13% to reach $397 million.</li>
</ul>
<img class="alignnone" src="https://s3.tradingview.com/snapshots/d/DmHe7X12.png" alt="SHIB/USD Price Chart" width="2047" height="1057" />

Source - <a href="https://www.tradingview.com/x/DmHe7X12/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>SHIB Technical Analysis</h2>
The SHIB prices maintain a lower high formation in the daily chart resulting in the fall out of the 50-day SMA. However, the recent bullish reversal retests the broken SMA and supply zone at the $0.000013 mark.

Moreover, the increasing trading volumes supporting the bullish engulfing candle of 5.67% yesterday increase the possibility of a prolonged uptrend. Nonetheless, the sideline buyers must wait for the price action confirmation by a daily candle closing above the supply zone before taking a bullish trade.

If coin prices sustain the breakdown of the $0.0000125 support zone, the post-retest fall may tumble by 20% to reach the $0.000010 psychological support.

Conversely, if the buyers push the coin price above the $0.0000125 mark, the fake breakdown scenario will accelerate the bullish momentum and surge prices to $0.00001461.
<h2>Technical Indicators</h2>
The daily-RSI slope rose to neutral, indicating the market sentiment is improving. The MACD indicator shows the downsloping fast and slow lines escaping a breakdown from the neutral zone, suggesting the buyers hold the upper hand.

Hence, the technical indicators maintain a positive outlook for the upcoming trend in SHIB prices.

Resistance Levels: $0.000013 and $0.000015

Support Levels: $0.000012 and $0.00001

SHIB Technical Analysis: Increasing SHIB Value Lures Buyers Or Victims?

SHIB technical analysis shows a bullish reversal from the $0.000011 mark that may shortly overcome the supply zone at the $0.000013 mark.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

SHIB Technical Analysis: Increasing SHIB Value Lures Buyers Or Victims?

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