Shiba Inu Rises 2.64% as Technical Momentum Remains Weak

Shiba Inu (SHIB) rose 2.64% over 24 hours, while technical readings showed weak momentum.

An earlier chart setup identified the $0.00000512 to $0.00000515 recovery band as a level SHIB would need to reclaim to challenge its bearish structure.

SHIB’s relative strength index measured 38.86 in Wednesday’s technical readings, below its 50 midpoint.

Its moving average convergence divergence (MACD) histogram was negative. The readings did not show a momentum reversal alongside the daily gain.

SHIB traded mostly near $0.00000507 in September. Late that month, it briefly moved above its 200-day exponential moving average band. The uptrend broke in October.