Shiba

Shiba Inu

Coin

<ul class="news-points">
 <li>Shiba Inu shows a descending triangle pattern, hinting at a potential breakout.</li>
 <li>With SHIB trading near key resistance, a breakout above $0.0000173 could trigger significant buying interest.</li>
 <li>Technical indicators like RSI and MACD suggest room for upward movement in SHIB’s price trajectory.</li>
</ul>
Shiba Inu (SHIB), the popular meme-inspired cryptocurrency, is showing signs of a potential breakout as its price consolidates near key resistance levels. Despite a recent downtrend, technical indicators and market sentiment suggest a bullish reversal could be on the horizon for SHIB.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeY5B_fCJehBmXa9pmLnhSmw0bbB5TsZvcObnXXkjXkAqxwVtbw896Fcvc0Ves7bsiD1iTvy0R82PLNRdBSTZ9-59Qy9kF07sidas_lB3l6nsJahmFPqWa8spii0iXnp4jZpD2ypOlD115gCRKCfyRaRUwH?key=ywtV0cZR97rJAbmZvbyW0Q" alt="">
</figure>
The SHIB/USDT chart highlights a descending trendline that has consistently acted as resistance. Recently, the price touched this trendline, and the trading volume saw a slight increase. This confluence often signals a crucial turning point. If SHIB breaks above this trendline with substantial volume, it could confirm the start of a new upward trend. The price of SHIB is currently at <a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">$0.00001730</a>, a slight increase. This rise, while modest, hints at growing bullish momentum as the coin attempts to overcome the resistance barrier at $0.00001729.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXftrOaen5-szf2WhOxOxsYv0IYblsVnlkCOr4qJ1pwMm7I6ZjpeuSn7_wnOj5kP5PbNwuKonpquUCj8xJ_D7blkKALgj_9nYIJ2nd5yC_emxTuwbDyFEnyNT_hQ0IIXbjPBOMx3wEOTCv72RD0dOFC8E37N?key=ywtV0cZR97rJAbmZvbyW0Q" alt="">
</figure>
Moreover, indicators such as the Relativ…
The post <a href="https://coinedition.com/shiba-inu-nears-key-resistance-is-a-breakout-imminent/" rel="noopener noreferrer nofollow">Shiba Inu Nears Key Resistance: Is a Breakout Imminent?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Shiba Inu Nears Key Resistance: Is a Breakout Imminent?

Coin Edition

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