Despite a breakout, the Shiba Inu (SHIB) price has failed to sustain its increase. Two levels are crucial for determining the future trend.

Shiba Inu is a self-proclaimed Dogecoin (DOGE) killer with its own decentralized exchange, ShibaSwap. It is an ERC-20 token, a counterpart to Dogecoin which uses a Scrypt-based mining algorithm.

The weekly time frame readings for the Shiba Inu price provide an undetermined outlook. While the price broke out from a descending resistance line and validated it as support (green icon), it has failed to sustain its increase.

Moreover, the weekly RSI is right at 50, indicating an undetermined trend. As a result, a look at a lower time frame is required to determine the future trend.

Will Shiba Inu (SHIB) Price Breakout Precede Increase?

The technical analysis from the daily time frame supports the scenario in which the SHIB price will increase considerably. It shows that the SHIB price broke out from a short-term descending resistance line, aligning with the readings from the weekly chart. 

Moreover, the w

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Author: Valdrin Tahiri

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