$SHIB
🚨 SHIB Moves Away from Bearish Trend 🚨
According to the SHIB/USD 4-hour chart, the memecoin has broken out of a falling wedge. The falling wedge appeared after SHIB’s price declined from $0.000015 to $0.000012 between April 26 and Tuesday, May 6.
On the same Tuesday, the volume around the memecoin increased amid buying pressure. As a result, SHIB’s price broke above the upper trendline of the falling wedge.
This breakout invalidated the bearish outlook. Following the price increase, CCN observed that the Awesome Oscillator (AO) reading has begun to flash green histogram bars.
Although the AO remains in the negative zone, the shift from red to green bars suggests that momentum is transitioning from bearish to bullish. If this trend continues, the AO could eventually cross into positive territory.
If validated, SHIB’s price could rise toward the upper trendline of the wedge, potentially revisiting the peak from earlier in the trend.