According to Javon Marks, the price of Shiba Inu is forming a clear inverted head and shoulders pattern with an estimated upward target of 540% at $0.000081. The head of the pattern has formed around $0.000006, and the two shoulders are between $0.000010 and $0.000012, forming a solid support level.
As long as SHIB remains at these levels, the bullish structure will remain intact. Currently, SHIB faces resistance at $0.0000140–$0.0000155, which has repeatedly stalled bullish attempts. A move above this zone would shift interest toward the neckline at $0.000017–$0.000018.
Beyond the neckline, the price of Shiba Inu could reach $0.000020–$0.000025, followed by stronger resistance at $0.000032–$0.000035, where rallies have faced difficulties before. If buying pressure is maintained, SHIB could extend its rise to $0.000045.
Eventually, this could pave the way toward the long-term target of $0.000081. However, a drop below $0.000010 would weaken the bullish formation and threaten to invalidate the prediction.
For now, the structure favors the bulls, with technical indicators supporting the possibility of significant growth.
The price of Shiba Inu continues to grow on a technically solid basis, supported by the inverted head and shoulders pattern. Powell's sentiment has further boosted confidence in the cryptocurrency market as a whole. If SHIB surpasses the neckline resistance, the 540% target at $0.000081 will be achievable.