🚀Shiba Inu (SHIB) Eyes 17% Breakout Amid Triangle Pattern Formation 🚀
As of May 28, 2025, Shiba Inu (SHIB) is trading within a descending triangle pattern on the four-hour chart, indicating a potential 17% price breakout if the pattern confirms.
Technical Analysis Highlights 📊
🔻Current Pattern: Descending triangle on the 4-hour chart.
🔻Breakout Potential: A successful breakout above the descending trendline could lead to a 17% price increase.
🔻Support & Resistance: Key support at $0.0000123; resistance near $0.00001461.
Market Indicators 🔍
🔻MVRV Ratio: Currently at neutral levels, suggesting balanced market sentiment.
🔻NVT Ratio: Decreased by 2.3% in the last 24 hours, indicating increased network activity.
The Currency Analytics
Investor Sentiment 💬
The formation of the descending triangle pattern has caught the attention of traders, with many anticipating a significant price movement upon breakout. However, caution is advised as a breakdown below the support level could lead to further declines.
Conclusion 📝
SHIB's current technical setup suggests a potential 17% breakout if the descending triangle pattern validates. Traders should monitor key support and resistance levels and consider market indicators before making investment decisions.
