- Currently, SHIB is building a falling wedge, which in history tends to result in a possible reversal and bullish price breakout.
- The next main target for the price is set at $0.00002005, which is almost 32% above the current level.
- Price resisted at $0.00001520 while still finding support at $0.00001461, leading to a period of consolidation.
Shiba Inu (SHIB), the Ethereum-based meme-inspired cryptocurrency, is showing early signs of a potential breakout as its price action enters a key technical setup. As of the latest data, SHIB is trading at $0.00001509, reflecting a modest 1.82% intraday increase.
Market analysts are watching closely to see if an old falling wedge pattern shows up on price charts, since usually it means prices could go back up. If the breakout does happen, SHIB could move up to around $0.00002005 in the short term, according to what technical analysts are predicting.
Falling Wedge Signals Possible Bullish Reversal
A falling wedge is often interpreted as a consolidation phase before an upward breakout. The current SHIB chart displays converging trend lines sloping downward, capturing a period of lower highs and lower lows. Price action recently tested the upper boundary of the wedge, sparking speculation that a bullish breakout may be in motion. Historically, falling wedges tend to precede upward momentum, especially when formed during an overall uptrend.
The projected breakout target stands around $0.00002005, a level that represents an approximate 32% upside from the current price. However, confirmation of the breakout will depend on sustained volume and continued movement above resistance.
Key Price Levels and Market Indicators
SHIB currently trades between a support level of $0.00001461 and a short-term resistance near $0.00001520. The resistance zone remains a critical barrier, with multiple tests failing to establish a higher close. A successful breach of this resistance could open the path to the anticipated breakout range.
The 24-hour price range has remained relatively narrow, suggesting consolidation. However, minor price expansion over the last session may point toward increased investor activity. In BTC terms, SHIB has gained around 1.9%, while ETH pairings show a 1.8% increase, aligning with the broader altcoin rebound.
Volume and Sentiment Trends
Volume data shows moderate interest, with no drastic surge yet to confirm aggressive buying pressure. Low amounts of bullish volume can be seen as a sign that traders are hesitant to take big risks
In context, SHIB’s recent chart behavior reflects a larger pattern seen across several altcoins—tight consolidation followed by attempts to reclaim lost ground. While macroeconomic factors and Ethereum’s network performance will likely influence SHIB’s next move, technical signals are currently tilting toward a potential short-term recovery.
Bottom Line
While SHIB remains below major resistance, the current formation of a falling wedge offers a technically significant setup. Should the trend continue and volume indicate a breakout, the token could go up to $0.00002005 as expected. Still, traders should pay attention to support and resistance levels, because if the wedge gets invalidated, the market may move sideways for some time.
