SHIB completed an inverted head and shoulders and now trades just above a key support price level.
The pattern suggests a possible move upward if price can remain steady near 0.000014849 for longer.
A hold above support could attract more buyers and lead to a push toward the 0.00001500 zone soon.
Shiba Inu (SHIB) has completed an inverted head and shoulders (H&S) pattern, signaling a possible continuation of its bullish trend. The chart shows SHIB returning to a previously broken support zone, currently trading around 0.000014849 USD. According to Cantonese Cat’s TradingView post, the daily chart indicates the pattern's confirmation and backtest.
Source: X Inverted H&S Pattern Suggests Strengthening Momentum
The inverted H&S is a well-known reversal formation that often signals a shift from downtrend to uptrend. In SHIB’s case, three distinct troughs are visible—each representing a shoulder or the head—followed by a breakout above neckline resistance. This breakout occurred after several months of bearish-to-neutral consolidation.
The pattern was confirmed when price exceeded the neckline level, which now acts as a new support. The chart shows that SHIB broke this neckline and is currently in a backtest phase. The backtest is critical, as holding this level typically confirms trend reversal strength and attracts renewed buying pressure.
The completed structure adds weight to the bullish argument. SHIB’s ability to return to this key price zone after a breakout demonstrates resilience. Traders often monitor such setups for continuation plays, especially when volume supports the breakout move.
Price Holding Support Zone After Breakout
SHIB’s price behavior after the breakout shows a retest of the prior resistance turned support area. This zone, marked in green on the chart, aligns with the neckline level of the H&S formation. The support region ranges between 0.00001400 and 0.00001500 USD, where SHIB has so far maintained its footing.
Holding this zone is essential for bullish momentum to continue. A drop below it could negate the breakout and bring the prior range back into play. However, as of May 20, 2025, SHIB remains above this level and is attempting to stabilize near its current price of 0.000014849 USD.
The price action around this level is also supported by a clean pattern structure. With the backtest in progress, buyers are expected to step in if the zone remains intact. The return to support and holding behavior typically validates bullish continuation in technical setups of this nature.
Could SHIB Extend Gains If Support Holds?
The chart structure raises one key question: will SHIB build on this momentum and extend gains if support holds?
Technically, the setup offers a favorable risk-to-reward scenario for bullish traders. The inverted H&S, now backtested, increases confidence in continuation toward higher resistance levels. If the zone between 0.00001400 and 0.00001500 holds, further upside may follow.
Investors are watching closely to see if price begins forming higher highs above the recent peak. Volume data, although not shown, would be a confirming factor for this trend. SHIB’s next move will likely depend on whether it can hold and build from this critical support area.
Traders view such technical formations as powerful indicators of market sentiment. If buying resumes at the neckline, SHIB may continue its push upward through late May and beyond.
