• Shiba Inu shows a descending triangle pattern, hinting at a potential breakout.
• With SHIB trading near key resistance, a breakout above $0.0000173 could trigger significant buying interest.
• Technical indicators like RSI and MACD suggest room for upward movement in SHIB’s price trajectory.

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.

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 $0.00001730, a slight increase. This rise, while modest, hints at growing bullish momentum as the coin attempts to overcome the resistance barrier at $0.00001729.

Moreover, indicators such as the Relativ…

The post Shiba Inu Nears Key Resistance: Is a Breakout Imminent? appeared first on Coin Edition.

• Shiba Inu shows a descending triangle pattern, hinting at a potential breakout.
• With SHIB trading near key resistance, a breakout above $0.0000173 could trigger significant buying interest.
• Technical indicators like RSI and MACD suggest room for upward movement in SHIB’s price trajectory.

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.

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 $0.00001730, a slight increase. This rise, while modest, hints at growing bullish momentum as the coin attempts to overcome the resistance barrier at $0.00001729.

Moreover, indicators such as the Relativ…

The post Shiba Inu Nears Key Resistance: Is a Breakout Imminent? appeared first on Coin Edition.