Shiba Inu triangle group puts the Bears in charge, 20% of the crash could rock meme coins
Crypto Analyst Smart Trading has shown Bearish pattern of shiba inuindicating that the bear is in a firm state of control. Based on this, he predicted that Schhib could witness 20% of crashes, a huge setback for the Bulls.
Shiba inu breaks down below the triangle pattern
exist TradingView PostsShiba INU prices have recently collapsed from the triangle’s pattern after consolidating near key resistance. With this development, analysts point out that potential retesting in the move towards a subdivision of around $0.00001396 is possible Support level is close to 0.00001041.
Based on this analysis, the main levels to watch include a resistance of $0.00001396 and a support zone of $0.00001041. exist Trading attractionscrypto analyst paper traders responded to similar sentiments. He noted that Shiba Inu is consolidating in demand regions and near key levels.
Analysts point out that bulls need shiba inu prices to explode Demand zone above $0.00001300 Get the top meme coins to $0.00001427. According to his accompanying chart, this could pave the way for further gatherings to $0.00001700. Paper Trader added that Shib Bears can push the price to the 0.00001100 level if the demand zone fails to hold.
Shiba Inu has been struggling this year since the beginning of the year, down more than 38%. This poor performance has led to Meme Coin It has dropped sharply in the cryptocurrency rankings and is currently ranked 19th in market capitalization. At the end of last year, Shib achieved an impressive 81% increase in less than two weeks, ranking the top 10 in the top 10.
The bottom may be used for Hib
On the other hand, crypto analysts Gktrademanthan offers bullish outlook For shiba inu price, point out that the bottom is a meme coin. This is because he has achieved similarities between 2024 and current price action. He claims Shib is following a repetitive pattern cycle, which he divides into four stages.
The first stage is Dropped wedgeanalysts revealed that it has been completed. Gktrademanthan revealed that Shiba Inu also completed the cup and handle pattern and W mode, stage 2 and stage 3 respectively.
Stage 4 is Head and shouldersAnalysts revealed that this is a pending formation that could trigger a significant upward movement of volunteer INU. The goal for the breakout is $0.00002431, about 90% from the current level of SHIB.
At the time of writing, the Shiba INU price is trading at about $0.00001322, up more than 3% in the past 24 hours. data From CoinMarketCap.
Featured Images from Getty Images, TradingView.com Charts
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