Shiba Inu’s inverse head‑and‑shoulders formation hints at a potential breakout

crypthub

about 3 hours ago

Price Reversal Potential

Shiba Inu shows signs of a potential bullish reversal after weeks of weakness, with an inverse head-and-shoulders pattern forming on the 4-hour chart. SHIB has fallen over 20% in 30 days, reflecting broader market uncertainty. Technical indicators suggest selling pressure may ease if bulls reclaim key resistance levels.

Technical Analysis Details

Crypto Sat identified a clean inverse head-and-shoulders pattern, with the neckline between $0.0000070 and $0.0000072. A breakout above $0.0000072 could push SHIB toward $0.0000078, $0.0000085, or even $0.0000090. Failure to break resistance risks a decline to $0.0000051, invalidating the bullish setup.

Market Structure Shift

SwallowAcademy noted SHIB broke its previous lower high at $0.00000725, signaling a shift in bearish market structure. The current retest of this level could drive price toward $0.0000085 if buyers defend it. Despite bullish signals, bears still dominate broader momentum, leaving downside risks if support fails. As of writing, SHIB traded at $0.00000618, down 5.08% in 24 hours.