Based

bullish

Major

Higher

Gains

<ul class="wp-block-list">
 <li>SHIB shows bullish breakout signs, targeting $0.000081.</li>
 <li>Higher lows support SHIB’s symmetrical triangle pattern.</li>
 <li>RSI and MACD suggest possible gains ahead.</li>
</ul>
<p><a href="https://cryptonewsland.com/shiba-inu-price-surge-signals-a-bullish-wave-will-catzilla-catz-be-the-next-meme-coin-to-take-off/" rel="noopener noreferrer nofollow">Shiba Inu</a> is showing strong signs of a bullish move. A breakout from a falling wedge pattern on the daily chart, coupled with a rising RSI, suggests that SHIB could be gearing up for a powerful rally. With a target of $0.000081, recent patterns show momentum building. Many traders now anticipate a strong price push.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> (Shiba Inu) remains broken out and has confirmed a bull pattern with the RSI on the daily chart!<br><br>Overall Target is still at $0.000081 and the next leg towards it can be in early stages, initiated by the falling wedge breakout… <a href="https://t.co/pbBS66quWM" rel="noopener noreferrer nofollow">https://t.co/pbBS66quWM</a> <a href="https://t.co/MVu7lBfoqG" rel="noopener noreferrer nofollow">pic.twitter.com/MVu7lBfoqG</a></p>— JAVON <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;">MARKS (@JavonTM1) <a href="https://twitter.com/JavonTM1/status/1853599365069472037?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-shib-s-weekly-chart-shows-resilience">SHIB’s Weekly Chart Shows Resilience</h2>
<p>On the weekly chart, SHIB has faced 245 days of downward pressure, stuck below a descending <a href="https://cryptonewsland.com/shiba-inu-price-analysis-is-shib-about-to-break-new-aths-massive-run-dwarfed-by-defi-tokens-20000-roi-potential/" rel="noopener noreferrer nofollow">resistance line</a>. This led to an August low of $0.0000107, breaking down below $0.0000145 support. However, SHIB quickly reclaimed this level with a strong price bounce, forming a long lower wick.</p>
<p>This move brought SHIB back to the descending resistance, where it recently attempted two breakouts, though neither succeeded. Reaching this line again demonstrates resilience. Breaking out from the previous ascending channel also hints that SHIB’s upward momentum may be impulsive.</p>
<p>If SHIB finally breaks past this trend line, the next target lies around $0.0000275, aligning well with recent wave predictions. While RSI hovers above 50 and <a href="https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/macd" rel="noopener noreferrer nofollow">MACD</a> sits neutral, a bullish crossover remains intact. Combined with SHIB’s strong price movement, these indicators make a breakout increasingly possible.</p>
<h2 class="wp-block-heading" id="h-higher-lows-and-symmetrical-triangle-fuel-breakout-hopes">Higher Lows and Symmetrical Triangle Fuel Breakout Hopes</h2>
<p>On the daily chart, SHIB has posted three consecutive higher lows since October, creating an ascending support line. This trend suggests strength and looks like SHIB is primed for a breakout. The daily chart also reveals a potential symmetrical triangle, often part of a bullish pattern.</p>
<p>Wave B of an <a href="https://www.topstep.com/blog/trading-abc-patterns/" rel="noopener noreferrer nofollow">A-B-C structure</a> may be forming, often signaling a breakout ahead. Based on this setup, SHIB could reach as high as $0.0000285, aligning with the weekly target. A hidden bullish divergence on the MACD adds support to this optimistic view.</p>
<p>Despite mixed signals from RSI and MACD, SHIB’s consistent gains suggest a breakout could be near. With higher lows and a bullish wave structure in play, traders are closely watching SHIB for signs of major gains ahead.</p>
<p>The post <a href="https://cryptonewsland.com/shina-inu-flashes-bullish-signals/" rel="noopener noreferrer nofollow">SHIB Flashes Bullish Signals: RSI and Breakout Hint at Major Gains Ahead</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

SHIB Flashes Bullish Signals: RSI and Breakout Hint at Major Gains Ahead

Table of Contents

Crypto News Land

Other articles published on Nov 6, 2024

Bernie Moreno wins Ohio Senate seat from Sherrod Brown

Crypto CEO Says XRP Is a Military Operation, the Final Product. Here’s why

FTX's Nishad Singh Avoids Prison: Cooperation Earns Leniency Amid Crypto Collapse Fallout

Massachusetts Election Results: Elizabeth Warren Wins Third Senate Term Against Deaton

Nigerian Government Drops Charges Against Binance Executive Tigran Gambaryan

October Sees $860M VC Boost for Crypto Startups, Led by Infrastructure and Gaming Sectors

Join our free newsletter for daily crypto updates!