Shiba Inu (SHIB) is exhibiting contradictory technical signals as it trades within a narrowing price range. The memecoin recently bounced decisively off the $0.000012 support level, defending the critical 50-day exponential moving average (EMA) and showing renewed strength. Trading volume has increased during recent upward pushes, suggesting growing buyer participation at these levels.
However, SHIB simultaneously faces rejection at a descending trendline resistance that has capped rallies since late July. This denial occurred near $0.00001420, indicating persistent selling pressure. The asset now consolidates between the 100 EMA resistance at $0.0000135 and the 50 EMA support at $0.000012, forming a symmetrical triangle pattern that typically precedes volatility spikes.
Technical indicators present conflicting outlooks: Rising volume during recoveries supports bullish potential toward $0.000014, but declining overall volume signals weakening conviction. A breakdown below $0.000012 could trigger a retest of $0.0000118-$0.0000115 support, while losing the $0.00001280 trendline might expose the crucial $0.00001000 psychological floor. The emerging squeeze pattern suggests an imminent decisive move, though recent rejections and volume patterns lean bearish near-term.