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Crypto Queen Analist

07/12 04:37

SHIB Forms Descending Channel Pattern Crypto anal

SHIB Forms Descending Channel Pattern

Crypto analyst Hailey LUNC has observed that Shiba Inu is forming a descending channel pattern on the daily chart. Notably, the price is consolidating just above the midline support and is currently testing the 50-day moving average (MA 50). A successful break above this resistance could act as a springboard for SHIB to test higher levels.unnamed (12).png

The major upside targets after such a breakout are $0.00001500, $0.00001750, $0.00002050, and potentially $0.00002500. As per Hailey, this technical formation might open the gates to bullish momentum, on the condition that SHIB holds its ground and continues to draw trading interest. The report was released in conjunction with the CoinEx Creator Program, giving credibility to the forecast.
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