💰💰💰 #shibaInu ’s Bullish Setup: Cup and Handle Pattern Targets $0.00003237
Bullish Signals for Shiba Inu: Cup-and-Handle Pattern and Breakout Predictions
Cup-and-Handle Pattern Forms on Weekly Chart
- Shiba Inu is exhibiting bullish potential, with a cup-and-handle pattern forming on its weekly chart. This pattern, often linked to upward momentum, suggests a breakout could be imminent.
- The cup section began in March 2024, when SHIB surged to $0.000045, followed by a correction in November that brought it below $0.00003. The handle reflects SHIB’s recent rise above $0.000033 before retracing to around $0.000026.
- Asteks, a crypto expert, predicts a potential breakout with a target of $0.00003237. To reach this, SHIB would need to climb 12.48% from its current price of $0.00002878.
Recent Market Activity and Recovery
- Shiba Inu recently dipped to $0.00002434 amid a Bitcoin-led market drawdown but rebounded to its current price of $0.00002878. Over the last 24 hours, SHIB has recorded a slight decline of 0.31%. While the token has faced an 11.15% drop over the past week, its resilience is fueling optimism among analysts.
Predictions of an Imminent Breakout
- Market observers remain bullish on SHIB's outlook. Whales HQ highlighted an ascending triangle pattern on the 4-hour chart, signaling a potential upward breakout.
- Furthermore, community expert Shib Spain emphasized that SHIB is retesting the critical $0.000024 support level. If this support holds, Shib Spain projects a rally to $0.000052, a 80.57% surge from the current price of $0.00002878.
- These developments position Shiba Inu as a token with strong breakout potential, drawing attention from traders and investors alike.
