• SHIB shows bullish breakout signs, targeting $0.000081.
• Higher lows support SHIB’s symmetrical triangle pattern.
• RSI and MACD suggest possible gains ahead.

Shiba Inu is showing strong signs of a bullish move. A breakout from a falling wedge pattern on the daily chart, coupled with a rising RSI, suggests that SHIB could be gearing up for a powerful rally. With a target of $0.000081, recent patterns show momentum building. Many traders now anticipate a strong price push.

SHIB’s Weekly Chart Shows Resilience

On the weekly chart, SHIB has faced 245 days of downward pressure, stuck below a descending resistance line. This led to an August low of $0.0000107, breaking down below $0.0000145 support. However, SHIB quickly reclaimed this level with a strong price bounce, forming a long lower wick.

This move brought SHIB back to the descending resistance, where it recently attempted two breakouts, though neither succeeded. Reaching this line again demonstrates resilience. Breaking out from the previous ascending channel also hints that SHIB’s upward momentum may be impulsive.

If SHIB finally breaks past this trend line, the next target lies around $0.0000275, aligning well with recent wave predictions. While RSI hovers above 50 and MACD sits neutral, a bullish crossover remains intact. Combined with SHIB’s strong price movement, these indicators make a breakout increasingly possible.

Higher Lows and Symmetrical Triangle Fuel Breakout Hopes

On the daily chart, SHIB has posted three consecutive higher lows since October, creating an ascending support line. This trend suggests strength and looks like SHIB is primed for a breakout. The daily chart also reveals a potential symmetrical triangle, often part of a bullish pattern.

Wave B of an A-B-C structure may be forming, often signaling a breakout ahead. Based on this setup, SHIB could reach as high as $0.0000285, aligning with the weekly target. A hidden bullish divergence on the MACD adds support to this optimistic view.

Despite mixed signals from RSI and MACD, SHIB’s consistent gains suggest a breakout could be near. With higher lows and a bullish wave structure in play, traders are closely watching SHIB for signs of major gains ahead.

The post SHIB Flashes Bullish Signals: RSI and Breakout Hint at Major Gains Ahead appeared first on Crypto News Land.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed