- MyShell broke the descending wedge resistance,signaling a bullish trend continuation.
- TD Sequential and Parabolic SAR, suggest increasing buying pressure.
- Market capitalization rose reflecting growing investor confidence and sustained market participation.
MyShell (SHELL) price has broken key resistance levels and is drawing renewed market attention. Investors and traders are closely monitoring its daily chart, reflecting a shift in market activity.
Bullish Technical Patterns Emerging
SHELL’s price has formed a falling wedge pattern, moving within a downward-sloping channel with lower highs and lows.A breakout above the descending resistance trendline suggests a shift from bearish to bullish momentum. Increasing bullish candles indicate that buying pressure is gaining strength.
According to analyst Captain Faibik (@CryptoFaibik), the breakout has already yielded around 28% profit since entry. This aligns with the measured move approach, where the height of the wedge is projected above the breakout, targeting $0.2281.
Holding this zone would reinforce the breakout,but failure could return the pair to consolidation. The overall technical structure signals the early stages of an upward trend.
Short-Term Price Movements
MyShell’s price recently surged by 16.7%, breaking above short-term resistance near $0.11. Indicators like TD Sequential and Parabolic SAR suggest the start of bullish momentum. The chart also anticipates a rounding bottom formation, indicating a potential new upward trajectory.
$0.094–$0.10,where moving averages and previous lows converge is acting as support. Resistance is at $0.1605 and a close above $0.12 could push the asset toward these targets.
High trading volume suggests that buyers are actively participating, which could sustain the bullish trend,however any weakness here may prompt a retest of $0.09.
Market Capitalization and Investor Activity
MyShell’s market capitalization rise reflects growing investor confidence and it corresponds with consistent trading volume and upward price momentum.Rising market participation suggests heightened visibility and interest in MyShell.
The weekly market trends are showing moderate volatility, followed by strong gains.These peaks and minor retracements are a sign that traders are profit-taking but the structure has remained constructive for continuation.
Overall, MyShell’s daily chart, price movements, and market capitalization point to strengthening bullish momentum. Traders remain attentive to support zones, breakout levels, and market activity.
