Usman Salis
Shiba Inu (SHIB) finds itself at a critical juncture as the popular meme coin consolidates within a tightening price pattern. With reduced volatility and key technical levels in focus, traders are positioning themselves for what could be a significant move in either direction.
SHIB Price Consolidates in Descending Triangle
Shiba Inu is currently trading within a descending triangle pattern, with price action hovering around the $0.00001121 level. This formation has been tightening over recent weeks, showing decreased volatility that typically precedes a major breakout.
Analyst points out that this extended consolidation is building anticipation among market participants.
If buyers can regain control, SHIB appears positioned for a strong upward move targeting significantly higher price levels.
SHIB Price Targets: Bulls Watching $0.00002486
The technical setup shows solid support holding around $0.00001100, a level that has been tested and respected multiple times. Above current prices, traders are eyeing resistance zones at $0.00001550, $0.00001758, and $0.00002057, with the primary bullish objective set at $0.00002486.
A confirmed break above the descending resistance line could spark renewed buying interest and draw fresh capital into the token. Conversely, if the support zone fails to hold, the pattern could turn bearish and open the door for deeper pullbacks.
SHIB Price Outlook: Breakout or Breakdown?
The current formation has both bulls and bears watching closely. Although descending triangles typically resolve to the downside, SHIB's ability to maintain support has kept many traders from taking aggressive short positions.
The $0.00001100 support level remains the key battleground. A decisive break higher could trigger a rapid rally toward $0.00002486, while continued rejection at resistance may extend the consolidation or lead to another bearish wave.
Usman Salis
