Shiba Inu Chart “Beginning to Look Interesting,” But SHIB Must Clear This Level for a Good Start

The Shiba Inu chart is starting to look “interesting,” as SHIB has begun knocking at a resistance trendline that has capped its upside since late February.

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Amid the ongoing recovery push from the broader crypto market, Shiba Inu (SHIB) has engineered a rebound effort, taking advantage of the market’s bullish momentum. With this campaign, SHIB has now begun retesting a crucial resistance trendline that may determine its next direction.

Key Points

• The latest recovery campaign has resulted in four consecutive bullish Shiba Inu daily candlesticks for the first time since September 2025.
• Within this period, SHIB has gained nearly 13%, as it looks to reclaim the $0.000006 psychological mark for the first time this month.
• Market data shows that Shiba Inu’s upward push has now led to a retest of an important resistance trendline that has capped its upside potential since late February.
• While Shiba Inu has already broken above this trendline, it needs to hold this breakout for the trend to decisively shift in favor of bulls.
• The break above the resistance trendline also aligns with a breakout from a falling parallel channel that had guided SHIB’s price action throughout this year.

Shiba Inu’s Latest Recovery Effort

Market analyst Crypto Tony identified this bullish positioning in one of his latest analyses, as SHIB looks to regain some of the losses of the past few weeks. Notably, after a turbulent weekend, SHIB began this week on a bullish note and has maintained this trend throughout the week. 

As a result, Shiba Inu has recorded four consecutive bullish intraday candlesticks for the first time since September 2025, indicating that the uptrend has not faded prematurely like previous ones. Within this period, SHIB has gained almost 13%, on track to record a fifth straight intraday gain.

SHIB Retests Crucial Resistance Trendline

Due to the ongoing momentum, Shiba Inu appears to be retesting a crucial resistance trendline that has capped its upside momentum for over two weeks. Specifically, this resistance trendline sits at the $0.0000059 area, and acted as a support region for SHIB until the meme coin broke below it on Feb. 27, a day before the escalation of the Israel-Iran conflict.

From that point, Shiba Inu had traded below the trendline, and attempts to break above it on March 1 and 4 met resistance from the bears and subsequent pullbacks. At the time of Tony’s analysis, SHIB was already attempting another breakout, changing hands at $0.000005809. 

As a result, the analyst suggested that the Shiba Inu chart was starting to “look interesting.” He emphasized that SHIB would have to reclaim the $0.0000059 level and hold above it for a “good start,” implying that this could mark the start of a potentially bullish trend flip for the short-term.

Shiba Inu Breaches Resistance Trendline and Falling Channel

At press time, Shiba Inu has already reclaimed the $0.0000059 area, effectively breaking above the resistance trendline. The meme coin now trades for $0.000005974, up 0.65% on the day. With the latest feat, the next task for SHIB is to hold above this $0.0000059 area, as highlighted by Tony.

Interestingly, data shows that the breach above the resistance trendline also aligned with a breakout from a multi-month descending channel that had dominated the daily chart throughout this year.

Specifically, the channel started forming after Shiba Inu dropped from the $0.00001 psychologically important mark on Jan. 5 following an impressive run early in the year. After this drop, SHIB recorded lower highs and lower lows, leading to the formation of the descending channel. The rally above $0.0000059 has now broken above the channel. SHIB must now hold above this breakout.