Shiba Inu (SHIB) shows promising signs of a major price breakout. Technical analysis reveals a Falling Wedge pattern formation. This pattern typically signals a bullish reversal.
Technical Pattern Signals Bullish Momentum
SHIB’s price action has formed a classic Falling Wedge pattern. This follows months of downward movement. The pattern suggests a potential trend reversal. Analysts expect a significant upward movement once the breakout occurs.
Rose Premium Signals identifies key resistance levels at:
- $0.00002913
- $0.00003612
- $0.00004401
Market Outlook and Timeline
The analysis points to a potential 250% surge by April 29, 2025. However, traders should prepare for initial volatility. The price might test lower levels around $0.00001299 in March 2025. This dip could create an attractive entry point.
Current market data shows SHIB trading at $0.000015. The token faces short-term bearish pressure with:
- 24-hour decline: 3.9%
- Monthly decline: 23.8%
Supporting Technical Indicators
The TD Sequential indicator flashes a buy signal on the weekly chart. This reinforces the bullish outlook. Analyst Ali Martinez projects a near-term target of $0.0000185.
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The convergence of multiple technical indicators strengthens the bullish case. The Falling Wedge pattern combined with the TD Sequential signal suggests strong upside potential. However, traders should manage risk carefully and consider the projected March dip.
Tags: #SHIB #CryptoTrading #TechnicalAnalysis #MemeCoins #BullishPattern
Source: NewsbtC