📉 📈 Shiba Inu Price Forecast: SHIB finds support around key level

Shiba Inu price broke above the falling wedge pattern (drawn by connecting multiple highs and lows with two trendlines) on December 3. Still, it failed to sustain its upward momentum and was rejected by the 50-day Exponential Moving Average (EMA) at $0.0000092. However, SHIB found support near the upper trendline and rose nearly 3% on Monday. At the time of writing on Tuesday, SHIB hovers at around $0.0000092.

❄️If SHIB continues its upward trend, it could extend the rally toward the next key resistance at $0.000010.

🔹The Relative Strength Index (RSI) on the daily chart is 46, pointing upward toward the neutral 50 level, indicating fading bearish momentum. For the bullish momentum to be sustained, the RSI must move above its neutral level. The Moving Average Convergence Divergence (MACD) showed a bullish crossover last week, which remains intact and supports the bullish view.

💠SHIB/USDT daily chart
If SHIB faces a correction, it could extend the drop toward the next key support at $0.0000076.