$SHIB

🚨 Shiba Inu Locked In Long-Term Bullish Structure, Targets $0.00023 🚨

According to the chart posted by CryptoELlTES, Shiba Inu is trading within a narrowing symmetrical triangle, a pattern often associated with explosive breakouts once price action compresses enough. This chart formation encapsulates Shiba Inu’s price action on a multi-year timeframe, starting from when it reached its current all-time high of $0.00008616 in October 2021.

Notably, the chart identifies multiple successful tests of the triangle’s support line, each marked by price rebounds that helped sustain the structure’s bullish integrity. These rebounds has been accompanied by lower highs over the years at a downward sloping resistance trendline, leading to the formation of a narrowing triangle.

The latest move was a bounce on the lower trendline of the triangle, and the next anticipated move is a push towards the apex of the triangle.

The technical setup outlined in the analysis suggests that if Shiba Inu can break above the triangle’s upper boundary, a 17X surge toward the $0.00023 price level could follow. Although the predicted move looks too bullish, it aligns with standard principles of technical analysis regarding breakout from symmetrical triangles

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