SHIB is under pressure near the $0.000023 resistance level. Despite challenges, certain patterns may indicate a reversal and potential for growth.
Strong Resistance Limits Upside Potential
Since 2021, SHIB has faced resistance at the $0.000023 level. This level has repeatedly halted price recoveries. Attempts to break it in 2022 and 2024 were rejected, indicating strong selling pressure and difficulties for buyers in establishing sustained momentum. Without confirmation of a breakout in this area, the market may remain in consolidation.
Inverse Head & Shoulders Pattern Offers Hope
Despite the bearish structure, an inverse head and shoulders pattern has formed, often a strong reversal signal. The neckline acts as a crucial resistance point. A breakout above this level could validate the pattern and lead to a rally with a potential target around $0.000081, implying a 402% increase.
Future Outlook for SHIB
Considering market trends, a shift from accumulation to expansion could draw investor attention to SHIB. If a breakout pattern is confirmed, buying pressure could significantly increase.
The inverse head and shoulders pattern suggests the potential for a significant upward trend for SHIB. However, confirmation of resistance breakouts remains key.
