Shiba Inu Signals a Potential Surge – Chart Pattern Targets $0.00002 Next Week

Shiba Inu (SHIB) could see a significant price rally in the coming days, with a potential move toward $0.00002, representing a 48% increase from its current price. This bullish forecast is based on the emerging “Rising Three Methods” candlestick pattern on the weekly chart, typically signaling a continuation of an uptrend.

Technical Bullish Signal: “Rising Three Methods” This pattern consists of a strong bullish candle followed by three smaller red candles with higher lows, which do not break the overall trend. The setup needs a fourth green candle that closes above the previous high – at $0.0000582 (43.18% Fibonacci level) – to confirm. If confirmed, the momentum could push SHIB to $0.0000218 as early as next week, assuming the broader crypto market turns bullish again.

Correction Could Make Room for a Bounce Despite the technical optimism, Shiba Inu recently dipped due to broader market liquidations exceeding $655 million, dragging SHIB down 6% to $0.0000135. However, 24-hour trading volume has jumped over 30%, likely driven by increased selling pressure. More than $1.09 million in long liquidations marked the highest single-week long wipeout, and may have catalyzed the latest pullback. If this leverage gets flushed out, SHIB could resume its early May bullish trajectory and hit $0.000022 next week.

RSI and AO Reflect Market Tension The Awesome Oscillator (AO) shows early bullish momentum – green histogram bars remain below the zero line, hinting that bearish pressure is fading. However, the Relative Strength Index (RSI) is still at 44. If it fails to break above 50, the bullish breakout may not materialize.

Price Targets: $0.00002 and Beyond? If Shiba Inu breaks past $0.00002, the next major target lies at $0.000033, which would mark a new yearly high. The overall market sentiment and completion of the chart pattern will determine whether SHIB can maintain momentum.

Summary: Shiba Inu is at a critical technical point. Completion of the “Rising Three Methods” pattern could trigger a sharp rally, but weak RSI and market uncertainty might stall the move. The upcoming weekly candle will be key to confirming direction.

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