Claim BonusSHIB Price Analysis: Reversal Pattern may Extend Recovery Rally by 16%
Amid the ongoing consolidation in the crypto market, the SHIB price reflected its range rally with the formation of an inverted head and shoulder pattern. Today, the coin price witnessed a strong inflow which breached the neckline resistance trendline. Sustainability above this level, the coin buyers would obtain an additional footing to drive the recovery rally high.
Key points:
- The SHIB market value has appreciated 20% since last week
- The daily shows high wick rejection near the $0.1187
- The intraday trading volume of the Shiba Inu coin is 713 Million, indicating a 41% gain.
Source- Tradingview
The SHIB/USDT price chart projected a downtrend under the influence of a bearish trendline accounting for a drop from $0.0000119 to $0.00000756 in June. During the bear market, the prices plunged under the crucial 50 and 20-day EMAs, while they had a negative alignment.
However, the buyers planned a scheme to reverse the price trend with an inverted head and shoulder pattern, with the trendline acting as the neckline. The pattern forms with the help of $0.00000756 and $0.00000984 support levels providing crucial reversal spots.
Today the SHIB prices jumped by 8.57% to beat the resistance trendline resulting in the bullish breakout of the prices pattern. Hence, if the daily candle manages to close above the $0.0000118 mark, investors can expect the rally first to hit $0.00001375.
However, a retest to this broken trendline can result in a dip to the $0.0000118 mark.
Conversely, if sellers pull the altcoin below the neckline, the ongoing consolidation would continue for a few more sessions.
Technical indicator
Vortex indicator: a wide gap between the VI+ and VI- slopes following a bullish crossover, accentuating growth in bullish momentum. This bullish alignment should encourage buyers to sustain the ongoing recovery.
RSI indicator: The daily-RSI slope jumps above the 20-SMA slope and rises higher in bullish territory, indicating the positive sentiment is returning to SHIB price.
- Resistance levels- $0.0000118, and $0.0000137
- Support levels : $0.00000984 and $0.00000756
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Related Articles
- XRP Realized Losses Spike to Highest Level Since 2022, Will Price Rally Again?
- Crypto Market Rises as U.S. and Iran Reach Key Agreement On Nuclear Talks
- Trump Tariffs: U.S. Raises Global Tariff Rate To 15% Following Supreme Court Ruling
- Bitwise CIO Names BTC, ETH, SOL, and LINK as ‘Mount Rushmore’ of Crypto Amid Market Weakness
- Prediction Market News: Kalshi Faces New Lawsuit Amid State Regulatory Crackdown
- Dogecoin Price Prediction Feb 2026: Will DOGE Break $0.20 This month?
- XRP Price Prediction As SBI Introduces Tokenized Bonds With Crypto Rewards
- Ethereum Price Rises After SCOTUS Ruling: Here’s Why a Drop to $1,500 is Possible
- Will Pi Network Price See a Surge After the Mainnet Launch Anniversary?
- Bitcoin and XRP Price Prediction As White House Sets March 1st Deadline to Advance Clarity Act
- Top 3 Price Predictions Feb 2026 for Solana, Bitcoin, Pi Network as Odds of Trump Attacking Iran Rise
