When SHIB shows a bullish breakout from the descending wedge pattern investors may expect it will reach $0.000017.
A price level above the designated area strengthens the breakout outcome which sustains short-term bullish momentum.
SHIB needs continuous high trading volume to achieve its target price of $0.000017 while surpassing resistance at $0.00001372.
The Shiba Inu (SHIB/USDT) price showed increased strength after breaking through a descending wedge pattern that indicates its continued upward movement. The price of SHIB currently stands at $0.00001368 with a 4.9% rise during the last 24 hours according to recent statistics. The memecoin maintains steady growth along established technical boundaries which attracted market observers who study short-term momentum patterns.
Technical Breakout Signals Upside Potential
The major advancement in SHIB's price movement came through its breakdown from a declining wedge chart pattern. The bullish technical pattern of falling wedge indicates a potential price reversal which resulted in its price reaching $0.00001372. The price could surge toward its anticipated breakout target at $0.000017 after clearing resistance at $0.00001372 provided that the volume remains high. Such an increase would amount to more than 26% gain.
https://twitter.com/army_shiba/status/1917816435184673068
The target should reach $0.00001494 and $0.00001574 according to chart projections during its upward trajectory. Strong upward movements may remove potential obstacles that exist at these price points.
SHIB Holds $0.00001303 Support as Volume Confirms Breakout
The initial support point has been located at $0.00001303. Within the ongoing consolidation area this support level forms the bottom boundary for altcoin's recent breakthrough. A price movement under this threshold point could delay the bullish momentum and shift investment sentiment toward caution only when the trading volume decreases.
The confirmation of the altcoin's price breakout depends heavily on the volume indicator. Sustained investor interest must remain high to continue upward price movement especially when the price gets near areas that have proven price-sensitive in the past.
SHIB Eyes Breakout Above $0.00001368
The price changes for the altcoin take place alongside an improving trend which spans various alternative cryptocurrencies. The market sentiment remains optimistic with the altcoin enjoying both increased retail interest and good technical indicators but the focus now is on overcoming $0.00001368 resistance to potentially reach $0.000017 levels. Successful dominance of current resistance levels would technically affirm the forthcoming upward movement.
