- Shiba Inu is showing signs of a potential bullish breakout, supported by a key demand zone between $0.0000139 and $0.0000144 and rising long-term holder activity.
- Technical patterns like the descending triangle suggest a possible 10–20% price increase, but market conditions will ultimately determine the direction.
Shiba Inu (SHIB), the popular meme-inspired cryptocurrency, could be gearing up for a significant price move, according to fresh technical analysis. A recent report by SwallowAcademy has spotlighted a crucial trading setup within SHIB’s current price range, signaling a potentially bullish reversal.
The analysis pinpoints a demand zone between $0.0000139 and $0.0000144, where SHIB has historically shown strong buying interest. With SHIB recently trading at $0.0000145, the setup hints at a potential 10–20% upswing, targeting a rebound toward $0.0000159.
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Several technical indicators support this outlook. SHIB’s 50-period Exponential Moving Average (EMA) sits at $0.000014266, while the 200-period EMA is at $0.000014561. SHIB currently trades just below the 50 EMA and is hovering near the 200 EMA — a zone often considered a tipping point for momentum shifts.
Further reinforcing the bullish narrative is the Relative Strength Index (RSI), which stands at 46.92 — slightly below the neutral level of 50. This suggests the asset is neither overbought nor oversold, a typical marker of a consolidation phase or early accumulation.
On-chain data from IntoTheBlock reveals a subtle shift in investor behavior: long-term holders (holding over one year) have increased by 0.84%, while short-term traders (holding less than one month) have decreased by 3.12%. This shift indicates reduced selling pressure and strengthens the case for an upcoming rally.
Adding to the bullish sentiment, crypto analyst Ali Martinez has identified a descending triangle pattern on SHIB’s chart. This pattern, marked by lower highs and a consistent support line around $0.00001413, typically precedes a breakout. Martinez suggests a possible 17% price move, aligning closely with SwallowAcademy’s forecast.
While optimism surrounds SHIB’s setup, market watchers advise caution. The direction of the breakout will depend heavily on broader market sentiment and upcoming macroeconomic factors.
Still, for traders and SHIB enthusiasts, the current price zone could present a compelling opportunity — one worth watching closely.
