Since topping in late October, SHIBA has been trading in a strong bearish trend. During this period, a falling wedge has been formed on the daily chart. Falling wedges are classically bullish reversal patterns.
With the entirety of the crypto market seeing strong bullish moves, it's to be expected that SHIBA will follow. This token is currently trading near the top resistance of the pattern, so a break out might occur soon. Look for a daily close above the resistance.
In case of continued bullish price action from BTC, we can expect SHIBA to perform well. Targets placed at previous highs and lows.
Happy trading!
With the entirety of the crypto market seeing strong bullish moves, it's to be expected that SHIBA will follow. This token is currently trading near the top resistance of the pattern, so a break out might occur soon. Look for a daily close above the resistance.
In case of continued bullish price action from BTC, we can expect SHIBA to perform well. Targets placed at previous highs and lows.
Happy trading!
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