CandleFocus Shiba Inu Braces for 342% Spike to $0.00008 After Falling Wedge Breakout
2024-10-12
Author: Content Editor
The market analyst Javon Marks has identified a falling wedge pattern breakout for Shiba Inu (SHIB), which suggests a potential 342% rally and a rise towards $0.000081. The falling wedge pattern had been forming for over five months, but SHIB finally broke out in August, indicating the potential for a strong upward move. Marks believes that if SHIB continues on its current trajectory, it could reach $0.000081. The previous breakout from a similar pattern in early 2024 resulted in a 368% spike in SHIB's price. Currently, SHIB is trading around $0.00001792, and the pivot point support level is at $0.00001719. The first major resistance is at $0.00002077, and if SHIB can break through this level, the next targets are $0.00002299 and $0.00002657. Key support levels to watch are $0.00001361, $0.00001139, and $0.00000781.
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