Shiba Inu (SHIB) price prediction: The current rebound is facing resistance, and the possibility of a breakthrough is in doubt.

Shiba Inu (SHIB) is currently trading at around $0.00001400, up about 8% this week and over 30% this month. Although the price is still below January's peak of $0.000024, the momentum for price increases is still under pressure, especially as profit-taking starts to appear.

SHIB price continues to rise, but momentum encounters bottlenecks

The price of Shiba Inu (SHIB) has seen a rise this week, currently close to $0.00001400. Despite the gradual increase in price, it has not yet broken through January's high of $0.000024. The current upward movement is still facing some technical pressure.

SOPR remains stable, indicating that weak holders are closing positions

Profit realization is often a stumbling block for rising markets, which makes the Spent Output Profit Ratio (SOPR) indicator particularly important. SOPR measures whether the coins sold on-chain are profitable (>1) or at a loss (<1). Currently, SOPR is around 1.0, having previously dipped below this value in the past few weeks.

On April 30, when the SHIB price approached $0.00001327, the SOPR had dropped to about 0.72. Subsequently, the price rose by about 28%, reaching $0.00001700, while the SOPR gradually recovered to around 1.0.

On June 16, the SOPR further declined to 0.69, with the price approaching $0.00001188. The subsequent price pump of about 30% reached $0.00001546, while the SOPR rebounded to 1.0. Despite the recent decline of SOPR to 0.83, the potential for price rise has not yet been unleashed.

This indicates that although prices are rising, most of the coins being sold are not generating significant profits, which means that weak holders in the market are quietly exiting, reducing the supply.

Historically, when SOPR significantly exceeds 1.0 and prices stagnate, a real correction usually occurs, but this situation has not yet appeared.

RSI shows increased buying power and potential momentum accumulation

If the market is to continue breaking through, it needs to have strong momentum. Therefore, the focus going forward is to check the Relative Strength Index (RSI).

The RSI measures the strength of recent price changes, ranging from 0 to 100. Since mid-June, the daily RSI has shown a slight upward trend, while the price has failed to break through previous highs, forming a bullish divergence. Although this divergence is not significant, it suggests that upward momentum is strengthening, which is a positive signal for the price movement of Shiba Inu.

This means that although the price has not broken through, the strength of buyers is continuously increasing. If the RSI continues to rise along with the price pump, the probability of a breakout will increase. If the RSI starts to decline while the price stagnates, it could lead to a short-term pullback.

Shiba Inu price level determines whether the 45% target is feasible

To validate the effectiveness of these technical indicators, it is necessary to determine key price levels. The current main resistance level is $0.00001587, which is the level that the Shiba Inu price has consistently failed to break through.

If the SHIB price successfully breaks through $0.00001587 and closes above this level, the price may pump to $0.00001746 (approximately 16% rise), then challenge $0.000022 (approximately 45% rise). However, before further rising, the price must first break through the psychological resistance level of $0.000020, which is about 33% away from the current price.

It is worth noting that once Shiba Inu breaks through $0.00001746, the technical resistance levels will be fewer, and the price may continue to rise.

Downside risks: Support level when breakout fails

On the downside, $0.00001463 is the first support level, followed by $0.00001375, which is the 0.5 Fibonacci retracement level. If the price falls below these support levels and the SOPR breaks 1.0, it indicates an increase in selling pressure, and the market may potentially turn bearish.

Fibonacci extension levels are used to indicate common retracement areas and target price ranges, making them a commonly used technical tool for traders.

Conclusion:

The price trend of Shiba Inu (SHIB) is still facing key technical challenges, especially the pressure from profit selling. If the price breaks through the major resistance level accompanied by further upward movement of the RSI, SHIB is expected to welcome a larger rise. On the contrary, if it fails to break through the key level, the market may experience a correction.