🚀 Good News for Ethereum Could Boost $SHIB 🐕

Analysts are optimistic that positive news about Ethereum, especially the release of the ETF, could give Shiba Inu price a big boost. 🐕💥

📉 The Market in Perspective

Recently, the cryptocurrency market has undergone a correction, with 1-2% drops in major assets like Bitcoin and Ethereum. After significant growth at the beginning of the week, the market is now looking to resume its upward trend. However, many altcoins, including Shiba Inu, are in a bearish phase, which could represent an excellent buying opportunity for attentive traders. 👀

📊 Shiba Inu Price Analysis – Trading Insight

Over the past seven weeks, $SHIB has been moving within a symmetrical triangle pattern. This technical pattern, with its converging trendlines, has served as dynamic resistance and support, keeping the price in a narrow range.

🔔 Break in Vista!

On May 15, the breakout of the triangle's upper trendline signaled the end of the correction, indicating support for future rallies. With Ethereum's recent rally following the launch of the spot ETH ETF, there was an increase in buying momentum, causing SHIB price to reach $0.0000268 on May 22, the highest in four weeks! 🚀✨

📉 Correction and Opportunity

After this spike, SHIB price fell to $0.00002534, recording an intraday loss of 3%. If this downtrend continues, SHIB could fall another 4.9% and retest the triangle support line. This dynamic support could revitalize bullish momentum, with potential targets at $0.000028 and $0.000032. 📈🔥

🔍 Current Status of $SHIB

Shiba Inu is currently trading at $0.00002534.#Binance #SHIBA✅🚀 #defi #Shibainu