SHIB is currently trading sideways on the daily timeframe, showing signs of accumulation as price consolidates between well-defined support and resistance levels. The lack of directional breakout has kept the market in range, but recent structure suggests that buyers may soon gain control — if key support levels hold.
Price is revisiting the value area low and weekly support zone, where a potential double bottom formation is in progress. The first bounce from this region triggered a bullish reaction. If bulls step in again at the same level, the pattern will be technically confirmed — a strong reversal signal that often precedes upward continuation.
This setup also aligns with the broader accumulation narrative: sideways movement with strong support reactions and no major breakdowns, which typically builds the base for a breakout. However, without a decisive move above resistance and confirmation via volume expansion, SHIB may continue to chop within the current range.
For now, price remains in a constructive position, and dips into support are considered high-probability buy zones, as long as buyers continue defending key levels. A confirmed breakout above range resistance would shift momentum decisively in favor of the bulls.
Key Levels to Watch:
Support: 0.0000180 – 0.0000172 (Weekly + Value Area Low)
Resistance: 0.0000225
Confirmation: Breakout on increased volume
Bias remains neutral to bullish until the range is resolved.
Price is revisiting the value area low and weekly support zone, where a potential double bottom formation is in progress. The first bounce from this region triggered a bullish reaction. If bulls step in again at the same level, the pattern will be technically confirmed — a strong reversal signal that often precedes upward continuation.
This setup also aligns with the broader accumulation narrative: sideways movement with strong support reactions and no major breakdowns, which typically builds the base for a breakout. However, without a decisive move above resistance and confirmation via volume expansion, SHIB may continue to chop within the current range.
For now, price remains in a constructive position, and dips into support are considered high-probability buy zones, as long as buyers continue defending key levels. A confirmed breakout above range resistance would shift momentum decisively in favor of the bulls.
Key Levels to Watch:
Support: 0.0000180 – 0.0000172 (Weekly + Value Area Low)
Resistance: 0.0000225
Confirmation: Breakout on increased volume
Bias remains neutral to bullish until the range is resolved.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.