Shiba Inu (SHIB) is on the verge of breaking a five-month downtrend, driven by consistent investor support and a positive funding rate. This strong backing is crucial for maintaining upward momentum and reflects growing confidence within the Shiba Inu community.
The Chaikin Money Flow (CMF) indicator shows robust inflows into SHIB over the past month and a half, further supporting the asset's potential for recovery and growth. A positive funding rate also indicates that traders are willing to pay a premium to maintain long positions.
Currently trading at $0.00001439, SHIB aims to flip the resistance level at $0.00001473 into support. Achieving this would set the stage for a potential rise to $0.00001961, marking a 40% increase and confirming SHIB’s recovery.
If SHIB fails to breach the $0.00001473 resistance, it will remain in its consolidation phase, prolonging its recovery and invalidating the bullish outlook.
