The crypto token Shiba Inu (SHIB) may be poised for a bullish breakout, as market analyst Alex Clay identifies an Inverse Head and Shoulders pattern on the daily chart. This pattern suggests a trend reversal and indicates potential upward movement for SHIB. Clay highlights three price targets that SHIB may reach if this pattern holds true. The first target is at $0.00002830, the second target is at $0.00003235, and the third target is at $0.00003820. These targets correspond with Fibonacci retracement levels and represent significant resistance points. The current price of SHIB is $0.00001881, and for the inverse Head and Shoulders formation to be confirmed, the price must break above the neckline at $0.000019.
- Content Editor ( thecryptobasic.com )
- 2024-10-30
Analyst Identifies Bullish Shiba Inu Head and Shoulders Pattern: Here are 3 Upside Targets