Against the backdrop of a bullish weekly chart, the daily timeframe indicates a probable decline in the SHIB price before the resumption of its upward trend. This dynamic is related to the analysis of wave structure and indicator metrics.
#shiba⚡ completed the first wave (white) in a five-wave growth sequence and is currently correcting in the second wave. Based on the current count, the asset is likely in wave C, which will complete the declining phase.
Target drop zone: $0.0000205 — support level at the 0.5 Fibonacci line. Target for the third wave of growth: $0.0000575 or higher after the correction ends. RSI and MACD are declining but remain above their key bullish thresholds, indicating a short-term downward trend within a long-term uptrend.
On the six-hour chart, the price movement occurs within an ascending parallel channel, characteristic of corrective phases.
The SHIB price has been rejected twice by the channel's midline, confirming the start of wave C.
A downward breakout from the channel will confirm a price drop to the support level of $0.0000205. After reaching this point, a bullish reversal is likely to begin with the potential to reach new highs.
Although $SHIB may experience a temporary drop, long-term prospects remain optimistic.
A drop to the level of $0.0000205 may provide favorable entry opportunities before a new rise.
