Shiba Inu (SHIB) could be on the verge of a major price surge, according to fresh technical analysis that draws striking parallels with historical patterns. Similar to patterns currently forming in Dogecoin’s price action, SHIB’s chart is showing promising technical formations that could trigger significant upside movement.
Technical Analysis Reveals Multi-Stage Bullish Setup
A comprehensive TradingView analysis has identified a four-stage pattern sequence in SHIB’s price action that mirrors successful rallies from 2024. The analysis highlights:
- Stage 1: Completed falling wedge pattern (classic bullish reversal)
- Stage 2: Emerging cup-and-handle formation
- Stage 3: Potential W-shaped pattern development
- Stage 4: Expected inverted head-and-shoulders pattern
Price Targets and Key Levels
Current analysis suggests a potential 91% rally from current levels:
| Metric | Value |
|---|---|
| Current Price | $0.00001340 |
| Target Price | $0.0000335 |
| Key Resistance | $0.00003000 |
| 100-day MA | $0.00001380 |
Risk Factors to Consider
Despite the bullish technical setup, several risk factors warrant attention:
- Recent 7.3% price decline in 24 hours
- Loss of 100-day moving average support
- Increased market volatility affecting pattern reliability
Frequently Asked Questions
What is causing the potential SHIB price rally?
Technical analysis suggests a combination of bullish patterns, including a falling wedge and cup-and-handle formation, similar to patterns that preceded previous rallies.
What is the predicted timeframe for the 91% rally?
While exact timing is difficult to predict, historical pattern completion suggests a 3-6 week window for the full pattern to develop.
What are the key price levels to watch?
The critical resistance level at $0.00003 and the 100-day moving average at $0.00001380 are the most important technical levels to monitor.
Traders should maintain strict risk management practices and consider broader market conditions before making investment decisions based on technical analysis alone.