Shiba Inu (SHIB) staged a notable recovery after hitting an intraday low, fueled by strong trading volumes as investors eye critical resistance points for clues of a bullish breakout.

Amid continued global economic uncertainty, SHIB dropped to 0.00001405 during midday trading before mounting a solid rebound.

Price action suggests a defined trading range, with a short-term support level forming near 0.00001447 and immediate resistance around 0.00001452. These levels are pivotal in determining SHIB’s short-term trajectory.

Key Technical Insights:

• SHIB’s 24-hour price volatility saw it fluctuate between 0.00001402 and 0.00001458, a 4% trading range.
• The token found a bottom at 0.00001405 around 3 PM, followed by a vigorous rally backed by above-average volume.
• The most significant surge occurred between 11 PM and midnight, with SHIB climbing 1.44% on exceptionally high volume of 756.55 billion tokens traded.
• Breaking above the 0.00001456 resistance on heavy volume may now establish this level as strong support for upcoming sessions.
• Shortly after reaching a local high of 0.00001456 at 1:13 AM, SHIB retraced slightly to 0.00001446 by 1:32 AM.
• At 1:51 AM, SHIB surged 0.88%, pushing past the 0.00001450 resistance mark with 15.91 billion tokens traded.
• A short-term support zone appears to be solidifying near 0.00001447, with resistance nearby at 0.00001452.

Traders remain focused on these price points to gauge whether SHIB can maintain upward momentum or face renewed selling pressure.