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암호화폐 뉴스 기사
Shiba Inu (SHIB) Poised for Breakout as Analysts Observe Bullish Patterns That Could Signal Substantial Price Increase
2025/01/08 15:49
Shiba Inu (CRYPTO: SHIB) has been attracting attention among cryptocurrency enthusiasts as several technical indicators suggest the possibility of a substantial price increase.
A recent analysis of SHIB's weekly chart by a technical analyst, operating under the pseudonym "Strong" on X, highlighted a bullish cup-and-handle formation. This pattern typically indicates a period of consolidation followed by a breakout.
In this case, the analyst's projection places a price target of $0.000066651 for SHIB, should it experience a breakout from the handle.
Highlighting the significance of SHIB being the largest ERC-20 token on Ethereum and its proximity to breaking out of a multi-year downtrend, the analyst suggests that the asset may follow a pattern of "gradual acceleration."
Once the breakout occurs, a sharp upward movement could be anticipated.
Shib will do what it does, "slowly then all at once" a monster vertical move
HTF chart looks super bullish
– a catch up play to $DOGE
– largest erc token on $ETH
– soon a break out of a 4y down trend
A bullish $SHIB is good for risk on crypto
It's almost time pic.twitter.com/ofzM4fEXhr
— $trong (@StrongHedge) January 5, 2025
Moreover, market analyst Javon Marks has identified additional bullish signals for SHIB on lower timeframes.
According to Marks, the token recently achieved a crucial goal by breaking above a significant resistance trendline, which coincided with its recovery to $0.00002108.
Emphasizing the importance of SHIB maintaining its position above $0.00002, the analyst highlighted this level as a strong foundation for further price growth in 2025.
From this perspective, two potential price targets emerge: a shorter-term goal of $0.000081, corresponding to a resistance level from an earlier cycle, and a longer-term target of $0.000155 for the current bull market.
If the token's momentum is sustained, these targets could indicate significant growth potential for SHIB.
In another analysis, Rose Premium noted a descending channel in SHIB's daily chart, beginning at a local high of $0.00003343. A breakout above this channel could set the asset up for price targets.
Following a breakout from the descending channel, Rose's projections include three potential price levels: $0.00003236 as a short-term target, $0.00003870 as an intermediate goal, and $0.00004349 as a long-term objective.
However, achieving these targets remains contingent on the token maintaining consistent bullish momentum.
With recent performance and bullish technical indicators, SHIB is a cryptocurrency to watch. Its price is ultimately influenced by market trends and investor sentiment, and analysts' projections offer possible scenarios based on their technical analysis.
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