Shiba Inu Uptrend Gains Momentum as Analyst Predicts Over 180 Percent Potential Surge

• Shiba Inu’s breakout patterns suggest strong bullish momentum, with a possible climb to $0.000081, a 180% gain.
• Fibonacci levels at $0.00002957 and $0.00003104 are key resistance zones shaping $SHIB’s next upward move.
• Rising volume during breakouts and renewed buying interest hint at sustained bullish activity for $SHIB’s recovery.

Shiba Inu ($SHIB) continues to showcase bullish momentum, according to analyst Javon, who has identified notable patterns indicating a potential climb. Recent price movements suggest an ongoing uptrend, supported by confirmed breakouts. 

Javon emphasizes that a significant upside move could unfold, with a target of $0.000081 implying a gain exceeding 180%. Observations point to strong buyer interest and technical patterns aligning to support further price increases.

Key Trends Highlight Upward Potential

Javon highlighted a sharp upward breakout that followed a consolidation phase. This movement emerged from a triangular formation, which historically signals high volatility. Post-breakout, the price demonstrated robust momentum, further reinforced by consistent higher highs and higher lows.

Notably, an extended period of consolidation appeared, forming a descending triangle. While typically bearish, this setup led to another breakout, reflecting resilience in market demand. Subsequent price action included a pullback labeled as “Bull Confirmation,” suggesting it was a temporary retracement within the prevailing uptrend.

Fibonacci Levels Indicate Crucial Price Zones

The Fibonacci retracement analysis highlights key support and resistance levels influencing $SHIB’s movement. After reaching a peak around $0.00003341, the price pulled back to align with the 0.618 retracement level at $0.00002719. This level served as a strong base before a rebound began.

Currently, $SHIB is testing the 0.382 level at $0.00002957, a critical threshold. A break above this could propel the price toward the 0.236 level at $0.00003104. On the downside, a failure to sustain above $0.00002838, aligned with the 0.5 retracement level, may lead to a deeper retracement.

Momentum and Volume Support the Bullish Case

Javon’s analysis noted that trading volume surged during breakout phases, signaling strong buyer activity. In contrast, volumes remained subdued during pullbacks, indicating limited selling pressure. An accumulation/distribution indicator also suggests renewed buying interest as the price recovers.

Support levels at $0.00002838 and $0.00002719 remain crucial for maintaining bullish momentum. Resistance zones, notably at $0.00002957 and $0.00003104, could define the next targets. These levels and indicators underline the ongoing recovery and potential for continued gains.