CandleFocus Expert says Shiba Inu Support Trendline Indicates Huge Pump as Resistance Nears Breakout
2024-10-19
Author: Content Editor
Crypto analysts are suggesting that Shiba Inu (SHIB) could be on the verge of a major price surge. The coin has been forming a solid ascending support trendline, indicating bullish momentum. After a consolidation phase, SHIB saw a push in September, and it has rebounded after encountering resistance. The current price is approaching an important resistance zone, and if SHIB breaks through, it could see a sharp upward movement to $0.00002700, a gain of over 40%. The coin is currently trading near $0.00001933, showing a steady trend of higher lows. A symmetrical triangle pattern suggests a potential breakout above $0.0000200, leading to a price rally. The chart also highlights indicators of growing bullish pressure, but there is support at the 20-day moving average. The Relative Strength Index indicates that SHIB is approaching overbought territory, but room for growth remains.
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