Shiba Inu ($SHIB ) is currently navigating a phase of low volatility, with price action hovering around $0.00001347 and facing headwinds at the $0.00001520 resistance. Despite the quiet momentum and subdued volume — just $152 million in the past 24 hours — a fresh wave of optimism is building, thanks to a highly regarded harmonic pattern spotted by analyst Waheed Ahmed.
According to Ahmed, SHIB’s recent chart structure resembles the powerful XABCD harmonic pattern, often associated with major trend reversals. The structure is taking shape on the weekly chart, giving it long-term significance. If validated, this setup could ignite a move toward the 2024 high at $0.00003345, representing a 147% rally from current levels.
Breaking Down the Pattern:
X Point: The peak at $0.00004540, hit in early 2024 after a parabolic move.
A Point: The deep correction to $0.000011 in August 2024.
B Point: A local high post-A in 2024.
C Point: The current year-to-date low, which forms the base for the next potential leg up.
What Comes Next?
If $SHIB follows the XABCD pattern path, the next leg – the move from C to D – could begin soon, with the fourth quarter of 2024 shaping up as the most likely window for liftoff. Historically, Q4 is strong for Ethereum and its ecosystem tokens, which benefits SHIB due to its ERC-20 roots.
While short-term conditions remain neutral to mildly bearish, the broader outlook suggests accumulation at these levels could be strategic for long-term believers. However, as this prediction is based on weekly candles, patience will be key, as large-scale harmonic moves take time to complete.
Current Stats:
SHIB Price: $0.00001347
24H Volume: $152M
2024 High Target: $0.00003345
Upside Potential: +147%
If $SHIB breaks above $0.00001520 in the coming weeks, it could trigger early momentum, validating this harmonic thesis.
Stay tuned — SHIB’s chart may be quiet today, but a storm could be brewing beneath the surface.
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