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One of the biggest meme coins, Shiba Inu (SHIB), is lining up the cleanest bullish setup seen in months, with several indicators pointing in the same direction. Traders may refer to this as a "perfect bull combo," and while it is not guaranteed, SHIB's recent price behavior makes it difficult to ignore.
For most of the summer, SHIB has been fluctuating between $0.0000115 and $0.0000135, with the lower level providing strong support. Last week, the token closed at $0.0000133, indicating that buyers are finally gaining the upper hand. The next price point to watch is $0.0000135.
If SHIB can break through this level, the next targets are at $0.0000157 and $0.0000169, with higher levels at $0.0000205 and $0.0000250.
On the daily chart, SHIB has climbed from August lows near $0.0000118, reclaimed the middle of the Bollinger Bands and is now approaching the upper one. Momentum is improving too: the RSI has climbed above 53 and continues to indicate that buyers are in control. This alignment of multiple indicators is what gives this setup a "perfect combo" label.
Don't get too bullish
However, there are still things to watch out for. The weekly RSI has only just lifted from oversold territory and remains below the neutral 50 line, meaning the broader trend has not fully turned yet. If Shiba Inu coin's price falls below $0.0000115, the bulls will lose their advantage, and the sideways range from spring could continue.
However, if buyers maintain their momentum and break through the $0.0000157-$0.0000169 resistance level, the likelihood of a stronger breakout increases significantly. Without sufficient trading volume, however, the token risks remaining trapped in the same narrow price range it has been stuck in for months.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team