Shiba Inu is holding at a retest area near the top of a long-term falling channel, showing early signs of a trend reversal.

On April 22, blockchain outlet The Crypto Basic reported that Shiba Inu is aligned with a key retest zone, and analysis suggested that holding the level could open the way for additional gains of up to about 100 percent.

Technically, the price range drawing market attention is between $0.0000058 and $0.0000060. The zone marks the top of a downtrend channel that has lasted for years. Shiba Inu has made lower highs and lower lows inside the channel since November 2025, but it moved above the channel top on April 16 with a 5.20 percent gain. It then slid about 7 percent from April 18 to 19, retesting the breakout point.

On TradingView charts, Shiba Inu is showing a pullback after breaking the downtrend channel and retesting the breakout area. Such moves are typically read as a stabilisation signal if the price settles in that zone. The market is treating whether it can hold the channel top as a key dividing line between the end of the downtrend and a shift into an uptrend.

On a Bollinger Bands basis, the lower band is $0.00000572, the middle band is $0.00000598 and the upper band is $0.00000625. Shiba Inu is attempting to turn a zone that had been resistance at the channel’s descending neckline into support, while aiming toward the upper band at $0.00000625. If this trend continues, it becomes possible to interpret the retest as entering its final stage.

Momentum indicators also showed some signs of improvement. The MACD turned positive for the first time since February, signalling easing selling pressure. The move is still at an early stage, and the key is whether the price holds steadily in the retest zone.

The broader market is also working in Shiba Inu’s favour. Bitcoin recovered the $78,000 level, and Ethereum neared $2,400. As major cryptocurrencies show relative stability, it is also lending support to recovery attempts in meme coins such as Shiba Inu. Shiba Inu rose about 2 percent more on the day, extending a rebound for a second straight day near the former channel resistance line.

Future resistance zones are also relatively clear. The first target area is $0.00000785 to $0.00000821, which are 26 percent and 32 percent higher than the current price, respectively. If it breaks above that zone, the next supply area is seen at $0.00001038 to $0.00001261. Reaching that range from the current price would amount to gains of 67 percent to 103 percent.

On-chain indicators also supported improving near-term sentiment. Over the past 24 hours, burn activity surged 544 percent, and the community burned more than 23 million Shiba Inu tokens. That has again highlighted the community’s push to reduce supply. Interest also grew in derivatives markets. Shiba Inu open interest rose 13 percent over 24 hours to $69.27 million. That is the highest level since April.

Ultimately, it became clear that Shiba Inu’s near-term direction depends on whether it holds support around $0.0000058, which had been the top of the long-term downtrend channel. Holding the zone would allow a technical breakout to be confirmed and open the possibility of targeting the next resistance levels, but another drop could lead to renewed scrutiny of the nature of this rebound.