A new technical analysis on Tradingview indicates that Shiba Inus’s latest price movements can revoke a familiar structure from earlier year, which raises the opportunity that history repeats itself. Analysts investigated Shiba Inu’s chart from November 2024 to the present and pointed out a sequence of patterns that also appeared between March and November 2024, designs that preceded a significant rally.
The analysis describes a clear path that can lead to a remarkable price increase Towards $ 0.00003 if these price patterns continue to play.
Pattern analysis suggests that Shiba Inu may be ready for a large upward movement
The The whole analysis is grounded On the idea of crypto markets are cyclic and Show recurring behaviors, audience psychology and recognizable diagram patterns. In particular, this analysis uses four distinct pattern stages that were played on the Shiba Inu Daily Candlestick -Time Frame Table.
The TradingView analyst began by highlighting the completion of a falling wedge pattern in Shib’s price chart, which is a classic bullish reversal. The analyst noted that the same structure was played out of March 2024 to September 2024, and served as a precursor to an outbreak during the weeks that followed.
From now on, Shiba Inu seems to have moved past the first wedge stage, which has made room for the second step, which has been identified as a cup-and-handle pattern. This pattern, which was recently observed and confirmed, also reflects the MEME coin formation back in August 2024, when a short consolidation phase eventually gave way for an upward movement.
The analyst believes that the diagram has now entered what they describe as “Step 3”, a phase where a W-shaped formation can emerge. Historically, this pattern was in line with a powerful trend in September 2024 when Shib experienced a several weeks of rally.
Breakout can come next
Although pattern repetition is not guaranteed, the analyst’s comparison of current and past formations presents an interesting story the haussearted traders will be interested in. If the last step plays out that the analyst expects, Shiba inu may soon form an inverted head-and-axis pattern, which is one of the strongest haus-like reversal signals in technical analysis. This pattern was last discovered as step 4 just before a rally that brought shiba inu Price above $ 0.00003 In December 2024.
Based on this four -step progression, the trader projects a 91% rally from here, which can lift Shib to $ 0.0000335. At the time of writing, Shib is traded at $ 0.00001340, which means that the token is still in the early phase of this expected pattern sequence.
However, Shiba InU’s short -term performance has recently shown weakness. Over the past 24 hours, the token has decreased by 7.3%and lost the ground after a short pressure over the 100-day sliding average that it had recently recycled a week ago. This dip now sees that Shiba Inu can test the same moving average, which can either act as a springboard for the next upward movement or become broken.
Image from iStock, chart from tradingview.com
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