Traded within a falling wedge pattern, Shiba Inu (SHIB) price rallied to $00008469, reaching near key resistance level at $0.00008517.

Shiba Inu (CRYPTO: SHIB) price traded within a falling wedge pattern and rallied to $000469, nearing a key resistance level at $0.00008517.
Traders are watching for a bullish move as the coin tests and breaks above a key resistance zone, seen between the $0.00001280 to $0.00001300 range.
However, failure to hold support levels may lead to further declines.
What Happened: After trading within a falling wedge pattern, Shiba Inu’s price is anticipated to breakout above the abovementioned resistance zone, confirming an upward trend.
Analysts at TradingView point out that a close above the 50-day moving average may indicate bullish momentum.
However, the 200-day exponential moving average (200 EMA) remains another key barrier that SHIB must surpass.
The bullish wedge setup could be invalidated if the price falls below this level. A breakdown may lead to additional losses, pushing SHIB lower.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.