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Coin Name: $SHIB
Signal Type: LONG

Market Overview:

SHIBUSDT has presented a bullish head-and-shoulders pattern, typically a strong indicator of trend reversal, particularly when identified after a sustained downtrend. This is visible in both the 1-hour and 4-hour charts, indicating the possibility of significant upside in the near term.

The pattern’s neckline is currently being tested, and if the price breaks above this level, we can anticipate a bullish continuation toward higher resistance levels.

Chart Analysis

  • SHIBUSDT - Head and Shoulders Formation:
    On the 1-hour time frame, the head-and-shoulders pattern has formed, suggesting a bullish reversal. If SHIB maintains its current support, there’s a high probability of a breakout, given the recent strength in altcoin movements. The support level has held well at $0.00000705, while resistance is forming around $0.00000740.

  • 15-Minute Time Frame:
    Zooming in to the shorter time frame, we can see further consolidation around the neckline, which strengthens the case for a breakout. Momentum indicators, such as the RSI, are also showing bullish divergence, reinforcing this potential move.





Broader Market Context

Looking at the broader market cap indicators—TOTAL, TOTAL2, and TOTAL3—we observe critical developments that enhance the likelihood of a successful SHIB trade.

  • TOTAL (Total Market Cap including Bitcoin): The overall market cap has remained resilient above key support levels, signaling that both BTC and altcoins could see a coordinated rise.

  • TOTAL2 (Total Market Cap excluding Bitcoin): Altcoins have been leading the market's recent rally. TOTAL2 broke above its previous resistance and is trending upwards, indicating increased confidence and liquidity flow into major altcoins like SHIB.

  • TOTAL3 (Total Market Cap excluding Bitcoin and Ethereum): Importantly, TOTAL3 recently broke out of an ascending triangle pattern, which historically signals an impending bull run for smaller-cap altcoins. With this, SHIB is well-positioned to benefit from the broader market surge as retail interest and capital rotate into lower-tier altcoins.

Trade Details:

  • Entry Price: $0.00001880

  • 1st Take Profit (TP1): $0.000020000

  • 2nd Take Profit (TP2): $0.000024

  • Leverage: 5x

  • Stop Loss (SL): $0.0000169

Conclusion:

Given the formation of the bullish head-and-shoulders pattern, SHIB is poised for a potential breakout. Additionally, the strong performance of the TOTAL3 market cap suggests that smaller altcoins, including SHIB, may see a wave of buying pressure in the coming days. Watch closely for a breakout above the neckline for confirmation, and always manage your risk with a tight stop-loss.

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