SHIBA - on the way to leave DOGE in the dust
First of all, analysis is made on 1D chart but 12h has more details so I chose it for publishing.
As you can see SHIBA is in triangle formation (I would even say pennant pattern because it's trend continuation pattern and I expect further upside price movement here).
Last few days SHIBA has created higher low and approaching resistance trend line.
Also you can notice hidden bullish divergence on RSI (it is visible on D chart) which confirms potential breakout.
Volume is also decreasing, and if we see breakout and volume spike I would look for triangle target of 10500 sats.
If SHIBA smashes true 10500 sats, my next target is 1.618 fib. extension which is aprox. at 18700 sats (240%).
If breakout ocure, last resistance that I in my opinion can slow down SHIBA a little bit is Anchored VWAP level (blue line on chart currently around 6300 sats.
Good luck to all!
As you can see SHIBA is in triangle formation (I would even say pennant pattern because it's trend continuation pattern and I expect further upside price movement here).
Last few days SHIBA has created higher low and approaching resistance trend line.
Also you can notice hidden bullish divergence on RSI (it is visible on D chart) which confirms potential breakout.
Volume is also decreasing, and if we see breakout and volume spike I would look for triangle target of 10500 sats.
If SHIBA smashes true 10500 sats, my next target is 1.618 fib. extension which is aprox. at 18700 sats (240%).
If breakout ocure, last resistance that I in my opinion can slow down SHIBA a little bit is Anchored VWAP level (blue line on chart currently around 6300 sats.
Good luck to all!
כתב ויתור
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