Shiba Inu Descending Channel Breakout Shows Where Price Is Headed Next

Crypto analyst Jonathan Carter has alluded to a technical pattern for Shiba Inu, which points to a breakout to the ￰0￱ on this, he predicted that the meme coin could soon break above the psychological $0.00002 level, which could pave the way for higher ￰1￱ Inu Confirms Descending Channel Breakout In an X post, Carter said that the Shiba Inu descending channel breakout has been ￰2￱ noted that the meme coin has successfully broken above the descending channel and is currently consolidating just below the MA 50 on the daily ￰3￱ on this, the analyst indicated that SHIB could record a rally of over 100%. Related Reading: Shiba Inu Price Set For 650% Expansion To $0.00009 ATH If This Happens This came as Carter stated that a move above this MA could trigger an explosive rise toward targets at $0.00001400, $0.00001750, $0.00002050, and $0.00002500.

Meanwhile, his accompanying chart showed that Shiba Inu could rally further to $0.000033 if it successfully breaks above $0.000025. However, the $0.000033 level will mark a huge resistance for the meme coin. Notably, crypto analyst Javon Marks recently predicted that Shiba Inu could record a rally of over 163% to the $0.00003 ￰4￱ stated that the SHIB price had formed a bullish pattern in a regular bull divergence, which the MACD Histogram ￰5￱ on this, he declared that a reversal was on the horizon, with the meme coin rallying to the ￰6￱ bullish predictions come amid a bearish sentiment toward the Shiba Inu ￰7￱ meme coin has underperformed the broader crypto market and is down over 42% year-to-date (YTD).

However, crypto analyst Shib Spain is still bullish on the meme ￰8￱ stated that the longer the meme coin’s accumulation continues, the more powerful the explosion will ￰9￱ At Crossroads At The Moment In a TradingView post, crypto analyst CobraVanguard suggested that the Shiba Inu price is at a crossroads at the ￰10￱ came as he highlighted a triangle pattern, which he stated would break in the direction it is breached, and the price would then move in that ￰11￱ accompanying chart showed that $0.000012251 is the key level to watch out for as the meme coin decides its next ￰12￱ Reading: Can Dogecoin And Shiba Inu Prices Recover? What To Expect In September A breakdown below this price level could send Shiba Inu to as low as $0.000011269.

Meanwhile, a successful break above this level could send the meme coin to as high as $0.000014183 in the short ￰13￱ marks one of the price levels that Carter mentioned as SHIB eyes a rally above the psychological $0.00002 ￰14￱ the time of writing, the Shiba Inu price is trading at around $0.00001240, up in the last 24 hours, according to data from ￰15￱ image from Adobe Stock, chart from ￰16￱