When the recovery momentum near the $0.000017 level was lost, the current shiba-inu price pattern was invalidated. It appears that the #SymmetricalTriangle that once suggested a breakout is now weaker. The bullish momentum needed to move the asset past this important resistance level has not been capitalized by it.
Although $SHIB
struggled to hold its position, the narrowing range of the symmetrical triangle suggested a potential spike in volatility. The token's inability to sustain the rally was partly due to the lack of strong buying pressure.
Nevertheless, there is a bright spot in the technical picture. The stock may have another opportunity to strengthen, even though the breakout momentum has not materialized, as the price is still above the upper line of the symmetrical triangle. The asset may attempt a more significant upside move if SHIB can muster enough volume and overcome the $0.000017 resistance level. If not, #SHIBŲ could go through a larger #consolidation or possibly back to lower support at $0.000015.
The likelihood of a short-term recovery could be further reduced if the bulls fail to drive the price higher and the token comes under increased selling pressure. #traders should now keep an eye on whether SHIB can regain momentum, with key resistance levels around $0.000017 serving as important indicators to keep an eye on. In the absence of consistent support from buyers, the path to recovery may become more difficult.
