😱🚀🚀Release Confirmed: Shiba Inu Price Set for Possible 73% Increase
Claim Reward 💰💰🔥
Over the past seven days, the Shiba Inu price has shown strong signs of an upward trend. Shiba Inu's (SHIH) technical analysis against the US Dollar (USD) reveals a compelling narrative of a break from a bearish pattern that could signal a strong upward trend.
Shiba Inu Price Confirms Break-EvenSince mid-December 2023, #SHIB has been trading in a descending parallel channel, as observed on the daily chart. Characterized by two parallel downward sloping trend lines, this channel framed the price movement, creating a series of lower highs and lower lows — a classic bearish signal within the market structure
The break from this channel took place on Wednesday, February 7, last week, with a decisive candle above the upper trend line, a move that is usually indicative of a change in market sentiment. Remarkably, the price has also risen above the 200-day Exponential
Moving Average (EMA)With this bullish move, the price also rose above the 20-, 50- and 100-day EMAS, indicating a strong change in momentum. The current break is especially important because it reflects a historical price movement from October 2023, when the SHIB also emerged from a declining channel and experienced an almost 80% increase in value in 59 days.
Related Reading: Shiba Inu Recorded a 2,500% Increase in Whale Activity, Is the Price of SHIB About to Skyrocket?Since historical price actions can often be repeated or rhymed in financial markets, investors and analysts closely monitor such patterns.
