Shiba Inu [SHIB]: The to-do plan to capitalize on this breakout rally

ambcrypto.com:

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

After a classic rectangle bottom setup, Shiba Inu [SHIB] flipped the $0.01217-mark from resistance to immediate support. (For brevity, SHIB prices are multiplied by 1,000 from here on).

With buyers finding rebounding grounds at this support level, SHIB witnessed a patterned breakout towards the basis line (green) of its Bollinger Bands (BB).

A potential close above this line could position the meme-coin for a sustained upside in the coming sessions. 

Source: TradingView, SHIB/USD

Post maintaining its sideways track for over two months, SHIB bulls have depicted a gradual increase in their force. The buyers kept building up on their underlying pressure, as reflected in the rectangle bottom breakout last month.

Despite witnessing a three-week falling wedge decline, the buying power recouped at the $0.01217-level to inflict a breakout rally. With the 20 EMA (red) still swaying above the 50 EMA (cyan), the bulls would strive to maintain their edge. Any bearish crossovers could hint at a bullish invalidation.

As the upper and lower band of the BB look towards each other, SHIB could see a low volatility phase in the coming days. A hike beyond the basis line in the $0.0129-region can open up recovery gateways towards the $0.0134-$0.0138 range.

Any decline below the $0.01217 baseline would confirm a bearish resurgence and potentially hint at a sustained decline.

Source: TradingView, SHIB/USD

After barely penetrating above the midline, the Relative Strength Index (RSI) saw a slight appreciation in buying edge. However, the buyers must push for a consistent close above the 50-level to capitalize on the recent