$SHIB has gained high momentum as several technical indicators show a significant surge towards the $0.00003 level. This was after it came out of a lower level of $0.00001 in late April, the coin has managed to bounce up to nearly $0.00001510 before dropping back to the $0.0000135 range. The dropping was just for a while. While writing this article, several indicators suggest that SHIB is undoubtedly forming a solid foundation for wider projections of rising soon.
The Prediction: $SHIB Price Breakout Analysis/ Rally to $0.00003
Furthermore, the Breakout analysis shows that $SHIB has strikingly overcome two main downward trendlines. This trendline dominated the token’s price action all through 2024, also in combination with early 2025. The first experience of the two main downward trendlines was in March 2024, which significantly formed several series of lower highs and lower lows. Nevertheless, the token rose to $0.000031 in late 2024 (this broke the trendline).
Once more, immediately after the initial event another took place and this time forming a selling pressure which proceeded to 2025. However, the token courageously breached the second resistance in mid-April 2025, undoubtedly, this could shift market dynamic. Recent attempts were $0.000026 and under $0.000016, sadly this was unsuccessful because of insufficient bullish base as at then.
Likely, the oscillating lines are approaching kind of a positive crossover, with histogram bars adjusting from negative to a neutral position. Recent green dots that displayed on the weekly chart have paved way for $SHIB multi-week price expansions. Honestly speaking, this is worth watching right now.
The Bullish Indicator Signal
Fortunately, the Wave Trend Oscillator turned upward after it reached some amazing oversold territory under 60. If we consider history, this pattern of movement has paved the way for sustained SHIB rallies. Hence, providing additional confirmation of the setup that traders are currently looking at.
Below is a weekly SHIB/USD chart analysis, and it shows three key indicators, displaying early bullish reversal patterns.
- the RSI
- WaveTrend Oscillator
- the LMACD
The RSI has flattened somehow within the 40-45 range after a rather long-lasting decrease. This has generated conditions generally favorable for an upward movement once momentum begins forming.
Likely, the oscillating lines are approaching kind of a positive crossover, with histogram bars adjusting from negative to a neutral position. Recent green dots that displayed on the weekly chart have paved way for $SHIB multi-week price expansions. Honestly speaking, this is worth watching right now.
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