$SHIB
🚨 Shiba Inu Harmonic Chart Pattern Points to a 210% Surge 🚨
The weekly chart pattern shows that the Shiba Inu price may have bottomed and that it was getting
ready for a 210% increase to its 2024 high of $0.000045.
First, the coin bottomed at $0.00001042 in April, a price that coincided with the ascending trendline linking the lowest level since June 2023. It has failed to drop below that trendline at least three times since then.
Second, it has formed a highly popular continuation harmonic chart pattern known as XABCD. This pattern comprises of five phases with four legs: XA, AB, BC, and CD. In Shiba Inu’s case, the first one happened between March and August last year.
The bullish AB phase happened between August and December, while the BC phase took place between December and April this year. It is now embarking on the final CD phase that may push it to its 2024 high, up by 210% from the current level.
Shiba Inu price will likely face resistance at $0.00003346, which is the neckline of the double-bottom pattern at $0.00001042, the AC phase. This initial target is about 120% above the current level.
The bullish SHIB price forecast will be cancelled if the coin drops below the important support at $0.00001042. If this happens, the next point to watch will be at $0.000005965, its lowest level in June 2023