SHIB 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

Trending
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.