Shiba Inu Weekly RSI Bullish Divergence... Key Break Above $0.0000122

Shiba Inu (SHIB) has shown a bullish divergence on its weekly chart, where price is declining while the Relative Strength Index (RSI) shows upward momentum. However, to reach $0.00001, SHIB must rise approximately 83% from current levels, with a breakout above the $0.0000122 weekly moving average being a prerequisite.

U.Today reported that SHIB traded around $0.00000547 on September 19, up 6.72% for the week. The price has been making higher lows over recent months, while the weekly RSI has also been trending upward—a bullish divergence indicating weakening selling pressure and a potential slowdown in the downward trend. However, this signal alone does not confirm a trend reversal.

U.Today noted that short-term moving averages are acting as support during the recent rebound, but long-term trends require further confirmation. The $0.0000122 level, identified by U.Today as the 200-week moving average resistance, is higher than the $0.00001 target, meaning a breakout above this longer-term average must occur before 'removing one zero' in price notation.

The RSI reading of 46.56 from CoinLore on September 19 (KST) places it in neutral territory, indicating that the bullish signal is not yet confirmed. Data sources vary: ChartExchange reported SHIB closing at $0.000005471 on September 18 and $0.000005440 on September 19, while CoinGecko listed a close of $0.00000515 on September 17. These differences reflect varying data collection methods.

While the weekly chart shows bullish divergence, confirmation requires both a weekly closing price and a breakout above the 200-week moving average. Whether SHIB reaches $0.00001 remains uncertain based solely on technical signals.