Shiba Inu Support Stabilizes as Bull Run Momentum Emerges

Shiba Inu (SHIB) appears to be approaching an important turning point as it stabilizes just above a major support area around $0.0000040.

The cryptocurrency has been consolidating there for several days, marking a crucial attempt by buyers to defend support areas after a prolonged decline.

According to the Relative Strength Index (RSI), which had fallen into oversold territory, is now turning higher. The indicator fell below 30 on two occasions last month, dropping to 19.54 on June 5 and 21.44 on June 28.

The RSI has recovered to 32.94, historically a movement that often appears when downside momentum begins to weaken.