$SHIB

🚨 Shiba Inu Price Is Bullish; Analyst Predicts Citing TA 🚨

Analyst ALLINCRYPTO revealed via X on April 23 that Shiba Inu price “upside is expected,” given a falling wedge pattern is confirmed on the broader time frame chart. This pattern likely suggests that a massive price rally for the meme coin lies ahead; here’s why:

The falling wedge pattern on a crypto’s price chart is usually considered bullish by market watchers as it is followed by a trend reversal from downtrend to uptrend. The pattern consists of two downward-sloping, converging trend lines. The upper trend line points at key resistance levels, whilst the lower line points toward support levels.

As per the analyst, SHIB price has been experiencing a pullback (temporary downtrend) since December last year to this April. However, the meme coin also formed a falling wedge pattern in this duration, reflecting the abovementioned characteristics.

Analyzing this pattern, the analyst believes that a trend reversal lies ahead, setting off optimistic waves amid an already ongoing broader market pump.

Notably, crypto prices have shown quite the potential over the past week, reversing previous losses and also adding value. Bitcoin price reached as high as $94K over the week, with major alts mainly following the broader upside action. Shiba Inu coin’s price has added over 11% value in the past seven days, with one token currently costing $0.00001320.

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