A new technical analysis of TradingView shows that Shiba Inu’s latest price movements can reflect a familiar structure at the beginning of last year and that history can increase the likelihood of recurrence. The analyst examined Shiba Inu’s graph from November 2024 to the present day, and showed a series of patterns that emerged between the molds before a significant rally between March and November 2024.
Analysis summarizes a clear way to direct a significant price increase If this price models continue to play, towards $ 0.00003.
Pattern analysis shows that Shiba Inu may be ready for a big upward movement
. All analysis is grounded Crypto markets CYPPORTED AND Exhibit repeating behaviors, crowded psychology and recognizable graphic patterns. In particular, this analysis uses four different pattern stages played in the Shiba Inu Daily Candlestick time zone graph.
TradingView Analyst began by emphasizing the completion of a felling wedge pattern in Shib’s price table, Shib’s reversal installation. Analyst said that the same structure was played from March 2024 to September 2024 and acted as the pioneer of a break in the following weeks.
From now on, Shiba Inu passes the first wedge stage and leads to the second stage, defined as a cup and sleeve pattern. This pattern, which has been observed and confirmed recently, reflects the formation of breast coin in August 2024, when it moved up at the end of a short consolidation phase.
The analyst believes that the graph is now describing what they define as “stage 3 olan, a stage that can now emerge. Historically, this model was aligned with a powerful ascension trend in which Shib had a very weekly rally in September 2024.
Breakout may be coming later
Although the pattern is not guaranteed, the analyst’s comparison of existing and past formations offers an interesting narrative. those rise traders Will be interested. If the analyst plays a last stage as expected, Shiba Inu can soon create an inverse head and shoulder pattern, one of the most powerful bull -reversing signals in technical analysis. This pattern was last seen as 4th stage just before a rally that brought Shiba Inu. More than $ 0.00003 price December 2024.
Based on these four -stage progress, the trader foresees a 91% rally, which can lift Shib to $ 0.0000335. During the writing, Shib is traded at $ 0.00001340, so the coin is still in the early stage of this expected pattern series.
However, Shiba Inu’s short -term performance has recently been weak. In the last 24 hours, the coin fell by 7.3%and lost the floor after a short pushing above a 100 -day moving average. Recovered a week ago. This immersion now sees that Shiba Inu is re -testing the same moving average, which can act as a jumpboard for the next upward movement or break.
The prominent picture from Istock, graphics from tradingView.com
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