Shiba Inu prices action was mostly silent In recent weeks, but it could change soon with an explosive movement. A recent cryptoelltes analysis on the social media platform X underlined a massive 17x decision for the Shiba Inu Prix.
The analyst shared a graph emphasizing how Shiba Inu is currently positioned in a powerful technical scheme, showing that cryptocurrency is in a strong purchasing area and on the edge of a significant escape.
Shiba Inu is locked in a long -term bullish structure, target $ 0,00023
According to The graphic posted By cryptoelltes, Shiba Inu exchanges in a narrowed symmetrical triangle, often a motif associated with explosive eruptions Once the price action is compressed enough. This graphic training summarizes the action of Shiba Inu prices in a multi -year period, from the moment it reached its top of 0.00008616 current in October 2021.
In particular, the graph identifies several successful tests of the triangle support line, each marked by price rebounds that have helped maintain the bullish integrity of the structure. These rebounds have been accompanied by tall highs over the years to a descending sloping resistance trend line, leading to the formation of a narrowed triangle.
The last Moving was a rebound On the lower trend line of the triangle, and the following movement provided is a thrust to the triangle apex.
The technical configuration described in the analysis suggests that if Shiba Inu can break above the upper limit of the triangle, an increase of 17x to the price level of $ 0.00023 could follow. Although the planned movement seems too optimistic, it Alignments with standard principles Technical analysis concerning escape from symmetrical triangles.
Picture From X: cryptoelltes
The current SHIB prices point a growing momentum
The price of Shiba Inu showed the first signs of strength after rebounding the lower trend line again, showing the resilience of the purchase pressure around this level of support. The pattern on the graph suggests that Shib can form a cup in the largest triangle, which adds to the increased perspective in the event of an escape.
Based on this positive dynamic, the recent price movements of Shiba Inu tilted the monthly table in a bullish position, preparing the ground for what could be an important technical step. If the ascending trajectory is valid, Shiba Inu is about to record its first positive monthly fence in April after five consecutive months of negative fences.
At the time of writing this document, Shiba Inu is negotiated at $ 0.00001381, down 5.5% in the last 24 hours. However, despite the short -term decline, the meme medal is still up approximately 11.5% compared to its opening price in April.
The question It's now so The wider market of cryptography will provide the necessary momentum to trigger such a Shiba Inu price rally which exceeds the symmetrical trend line and sends it to $ 0.00023.
Felash star image, tradingView graphic
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