Shiba

Shiba Inu

The post <a href="https://coinpedia.org/price-analysis/shib-price-escapes-the-wedge-to-play-eyes-25-hike/">SHIB Price Escapes The Wedge To Play, Eyes 25% Hike</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Taking support from the short-term descending support trendline, Shiba Inu makes a comeback as the market stabilizes. With multiple lower price rejections, the bullish turnaround in SHIB price surpasses the overhead resistance trendline.&nbsp; 
Further, the meme coin reclaims the 200-day EMA and cahllegnes the 50-day EMA with the intent to avoid a death cross event. On a positive note, our long-term <a href="https://coinpedia.org/price-prediction/shiba-inu-price-prediction/">Shiba Inu price prediction</a> hints at a triumphant bull run for Shiba Inu in 2024.&nbsp; 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="492" src="https://image.coinpedia.org/wp-content/uploads/2024/01/30141531/image-161-1024x492.png" alt="" class="wp-image-265370" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/30141531/image-161-1024x492.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/30141531/image-161-300x144.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/30141531/image-161-768x369.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/30141531/image-161-1536x737.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/30141531/image-161-150x72.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/01/30141531/image-161.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source: <a href="https://www.tradingview.com/x/6kCc67ew/">Tradingview</a> 
With the lower high trend formation in the daily chart, the SHIB price trend shows a downtrend, accounting for a drop of 19%. Further, the downtrend forms a falling wedge pattern as the pullback leads to two converging boundary lines.&nbsp; 
As the market recovers, the Shiba Inu price trend finds an increase in bullish momentum following the lower price rejection from the support trendline. Further, the declining trend in trading volume during the pullback session finally finds an uptick.&nbsp; 
Such reversal signals support the recent recovery and the intraday growth of % crossing above the overhead trendline. Considering the closing price sustains above the trendline, the bull run can ignite a strong recovery phase in the SHIB price. 
Technical indicators: 
MACD indicator: With the SHIB price on the verge of a bullish breakout, it brings a positive crossover in the MACD and signal lines. Considering the uptrend manages a breakout, the momentum indicator supports the trend reversal possibility.&nbsp; 
<h2 class="wp-block-heading" id="h-will-shib-price-reclaim-0-000010">Will SHIB Price Reclaim $0.000010?</h2> 
As the bulls are starting to overtake trend control of the entire market, the meme coins are ready for a high speed upside move.&nbsp; 
As per the above SHIB price analysis, the breakout will be crucial for the buyers to fuel the next run. In such a case, the breakout run can fuel the Shiba Inu price jump to the $0.000010 mark.&nbsp; 
On the flip side, if the Shiba Inu coin price fails to reclaim the momentum, then it could tumble to $0.000008360.

SHIB Price Escapes The Wedge To Play, Eyes 25% Hike

Table of Contents

CoinPedia News

Other articles published on Jan 30, 2024

5 Reasons Why Solana (SOL) Price Skyrocketing Daily

What is Wash Trading in Crypto?

Will the Ethereum ETF finally be adopted in 2026?

Shiba Inu: 800 Billion SHIB Moved, What Does it Mean?

Insight into Cryptocurrency Trends: Analyzing Solana, Cardano, and Avax

SHIB Partner Bad Idea AI (BAD) Announces Major New Update – See Details

Join our free newsletter for daily crypto updates!