Shiba Inu (SHIB) jumped 4.95% in intraday trading on Wednesday, but the rally is already running into a technical wall. The token hit the upper Bollinger Band, a level that often signals overextension, and the momentum behind the move looks weak.
Why the surge is stalling
The MACD indicator, which tracks trend strength and direction, shows zero conviction behind the advance. That means the buying pressure isn't strong enough to confirm a sustained breakout. Traders watching the charts see a classic fade setup — a bet that the price will pull back from the band — with a 60% probability of success, according to the data.
What it would take to keep going
For the rally to hold, bulls need to push the Relative Strength Index (RSI) above 65. That would signal genuine momentum rather than a short-lived spike. Without that, the move looks like a technical bounce that could reverse quickly.
The 4.95% gain came on relatively thin conviction, leaving SHIB vulnerable to a retracement. The next few sessions will show whether buyers can step in with enough force to break through the band or if the fade trade plays out as expected.
