This pattern consists of a descending resistance line and a horizontal support line. Historical data shows that assets often break through the resistance line in such consolidation patterns. If SHIB successfully breaks through this resistance line, the price is expected to rise by to increase by about 39%, with a target price at $0.00001765.
However, SHIB needs to close firmly above the resistance line and receive clear confirmation to validate the of its validity.
More Bullish Signals Emerge
Combined with key technical indicators such as Bollinger Bands and Money Flow Index (MFI), SHIB's upward potential is further enhanced. Currently, the Bollinger Bands show that SHIB may be in an oversold state, with the close price near to the lower Bollinger Band, which typically indicates an imminent buying interest. The position of this lower band coincides with an important support level on the chart, reinforcing the bullish view.
Moreover, signs of capital inflow into SHIB are obvious. According to the latest data, the MFI is 35.67, suggesting a potential upward trend. If the MFI further rises above 50, it indicates strong liquidity inflow, boosting bullish sentiment and price momentum.
Industry Background and Risk Warnings
Despite SHIB's bullish potential, the overall meme coin market still faces challenges. Artemis data shows that the meme coin sector dropped by 15.2% in the past week, making it one of the weakest performing categories in the crypto market, reflecting the pressure of liquidity outflow. This industry environment may somewhat drag down SHIB.
However, industry recovery is expected to boost overall liquidity and attract more funds back to SHIB, supporting its price performance.
Summary
Overall, #SHIB is is at a critical technical node, with multiple technical indicators supporting a bullish pattern. Despite the volatility in the meme coin industry, potential capital inflow and technical provide a basis for future price increases.><'s the end! If the you in the crypto market, consider joining joining layout and harvest me! You can join the communityitywithout threshold (WeChat+QQ: 3806326575) to get market analysis, individual coin recommendations, and favorable news, layout layout in advance, and also have irregular live market analysis! You can also ask questions in the group and and get the the best optimal answers**
