Shiba Inu's Bullish Combo Hints at Price Reversal

Shiba Inu's weekly chart has formed a rare technical setup that may indicate the beginning of removing another zero from its price. This 'bullish combo' is characterized by long-term seller exhaustion and a local price reversal, with SHIB currently trading near its local bottom at $0.00000547.

The token has shown a weekly gain of 6.72%, but what's notable here is the technical divergence between the price and indicator readings. A classic bullish RSI (Relative Strength Index) divergence has formed, where higher lows on the oscillator confirm a hidden influx of liquidity into the asset.

This signal suggests that selling pressure has been exhausted, and the bearish trend is running out of steam. As a result, key drivers have emerged on the chart: the RSI divergence and support at the bottom. Buyers have managed to establish a local support level and halt aggressive bearish pressure, reducing the likelihood of further decline in the short term.

However, investors should not expect an easy 'removal of a zero' and a stable transition into the $0.00001+ zone. The main barrier for buyers lies significantly above current prices, at $0.0000122, where the 200-week moving average (MA) sits as primary resistance.