Shiba Inu

Daily

Coin

<ul class="news-points"> 
 <li>A bullish ascending triangle pattern has formed on SHIB’s daily chart.</li> 
 <li>If the pattern is validated, SHIB may rise to $0.0000105 in the coming week.</li> 
 <li>Should the bearish sentiment for SHIB continue, it could drop to as low as $0.00000643.</li> 
</ul> 
Despite the market trend’s indecisiveness, the <a href="https://coinedition.com/shiba-inu-shib-price-prediction/" rel="noopener noreferrer nofollow">price of Shiba Inu (SHIB)</a> continues to show signs of recovery due to the impact of an ascending triangle pattern. Over the last five weeks, buyers of the coin have consistently found support from the rising trendline formed by this pattern. 
Since hitting its low point of $0.0000064 on 14 June 2023, the price has experienced a notable 22% surge. This pattern suggests the potential for further upward movement, possibly leading the popular meme coin to challenge even higher price levels. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full"> 
 <img decoding="async" width="975" height="477" src="https://coinedition.com/wp-content/uploads/2023/07/image-31.png" alt="Daily chart for SHIB/USDT" class="wp-image-322810" srcset="https://coinedition.com/wp-content/uploads/2023/07/image-31.png 975w, https://coinedition.com/wp-content/uploads/2023/07/image-31-300x147.png 300w, https://coinedition.com/wp-content/uploads/2023/07/image-31-313x153.png 313w, https://coinedition.com/wp-content/uploads/2023/07/image-31-380x186.png 380w, https://coinedition.com/wp-content/uploads/2023/07/image-31-768x376.png 768w, https://coinedition.com/wp-content/uploads/2023/07/image-31-696x341.png 696w, https://coinedition.com/wp-content/uploads/2023/07/image-31-127x62.png 127w, https://coinedition.com/wp-content/uploads/2023/07/image-31-159x78.png 159w, https://coinedition.com/wp-content/uploads/2023/07/image-31-255x125.png 255w, https://coinedition.com/wp-content/uploads/2023/07/image-31-795x389.png 795w, https://coinedition.com/wp-content/uploads/2023/07/image-31-440x215.png 440w, https://coinedition.com/wp-content/uploads/2023/07/image-31-414x203.png 414w, https://coinedition.com/wp-content/uploads/2023/07/image-31-326x159.png 326w, https://coinedition.com/wp-content/uploads/2023/07/image-31-377x184.png 377w, https://coinedition.com/wp-content/uploads/2023/07/image-31-328x160.png 328w, https://coinedition.com/wp-content/uploads/2023/07/image-31-144x70.png 144w, https://coinedition.com/wp-content/uploads/2023/07/image-31-123x60.png 123w, https://coinedition.com/wp-content/uploads/2023/07/image-31-129x63.png 129w" sizes="(max-width: 975px) 100vw, 975px"> 
 <figcaption class="wp-element-caption"> Daily chart for SHIB/USDT (Source: <a href="https://www.tradingview.com/x/22vsg0h5/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>) 
 </figcaption> 
 </figure> 
</div> 
The altcoin’s price was attempting to challenge the lower trend line of the triangle chart pattern. Should SHIB’s price reach this level, bulls may identify the meme coin’s price as a buy opportunity – resulting in a potential 9.35% upswing. 
If this bullish thesis plays out, SHIB’s price could climb to the resistance of the pattern at $… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/bullish-pattern-on-shibs-daily-chart-may-result-in-25-upswing/">Bullish Pattern on SHIB’s Daily Chart May Result in 25+% Upswing</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Bullish Pattern on SHIB’s Daily Chart May Result in 25+% Upswing

Coin Edition

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