Shiba Inu (SHIB) Token Shows Unexpected Strength After 'Death Cross' Signal

A few days ago, the price chart of the Shiba Inu (SHIB) token showed a "death cross," which is when a lower-order moving average dips below a higher

A "death cross" appeared on the Shiba Inu (SHIB) token price chart a few days ago, indicating a lower-order moving average dipping below a higher-order one, usually signaling strengthening downward trends. In this case, the 23-day moving average crossed below the 50-day moving average.

This had many traders anticipating a medium-term downtrend. But as we know, markets are rarely so straightforward.

In less than a week, Shiba Inu found a local bottom above $0.00002, surprising everyone with a rally of over 5%. This quick rebound now has us looking at growth paths instead of bearish possibilities, as the token edges closer to key resistance levels.

The 23-day and 50-day moving averages are now positioned to create a layered structure of potential obstacles. At $0.00002385 and $0.00002556, these points may serve as critical zones where price activity could encounter resistance.

Sandwiched between these levels is the $0.000025 mark — a key resistance line that could become a focal point for further upward momentum. If this threshold is breached, it may indicate strength sufficient to propel the token toward new territory.

The $0.00003 level is significant as a potential target that would constitute a 30% gain from today's price. If Shiba Inu manages to reach this level, it will be in recovery mode, showing that it can shrug off technical warning signs.

However, the path upward is not guaranteed. The interplay between moving averages and resistance levels will likely determine whether SHIB maintains its current momentum or succumbs to new selling pressure.

At the moment, Shiba Inu finds itself in a rather interesting position, balancing precariously between bearish technical signals and these unexpected bursts of strength.