LIVEHI GUYS,
IT'S BIG & BIG #alert ABOUT $SHIB RALLY !!!
Market Veteran Projects Shiba Inu Rally to $0.0001553 as SHIB Gains 9% in a Day
Market analyst Javon Marks expects Shiba Inu to leverage the latest price upswing for a rally toward the $0.00015 price
territory.
Marks made this forecast in his latest SHIB analysis, calling the public’s attention to a bull flag pattern formed by the dog-themed asset in the six-day timeframe. Bull flags typically occur as continuation patterns, showing a consolidation before a resumption of the previous uptrend.
Shiba Inu Forms Bull Flag
For context, Shiba Inu recorded its previous uptrend from Feb. 25 to March 5, when it surged by over 370% to the yearly high of $0.00004567.
SHIB faced resistance at the $0.000045 territory, but this was expected, as IntoTheBlock data confirms a supply wall at this level, where 57,740 addresses hold 9.56 trillion tokens.
The ensuing correction led to Shiba Inu giving up some of the previous gains of this initial upsurge. The broader market turbulence further exacerbated this bearish situation.
Marks’ chart shows that this downtrend, which has prevailed since March 6, resulted in the formation of a bull flag.
$SHIB (Shiba Inu) now holds broken out of a "smaller" Bull Flag like pattern and this breakout may be enough to spark another major wave up in an already massive uphill run!
With a larger breakout also holding, this smaller break can initiate a continuation in an over 210% run
Shiba Inu Targets $0.0001553
On the flip side, Marks expects this second leg up to push Shiba Inu by another 210% toward the $0.000081 level, just 9% below its ATH of $0.00008845. Should SHIB breach the $0.000081 level, the analyst sets a higher target of $0.0001553, marking a 511% increase from the current price of $0.0000256.