đ„ BeinCrypto Analytics: $SHIB Price Prediction
Shiba Inuâs price attempts to break down a symmetrical triangle pattern. This is a technical analysis formation characterized by converging trendlines, indicating a period of consolidation before a potential breakout.
Given that candlesticks are close to breaching the breakout point, the meme coin has the potential of a rally. Based on the pattern, the target is $0.00004148, marking a 45% rise. However, realistically, Shiba Inuâs price rise will likely halt at $0.00003599, which marks a crucial resistance.
But if the cryptocurrency falls through the lower trend line before rallying or fails to breach the $0.00003000 barrier, it would invalidate the bullish thesis, falling to the $0.00002268 support level.
