Shiba Inu Price Eyes $0.000035 as Bullish Patterns Hold Strong

Key Insights:

• Shiba Inu Price supports an inverse H&S pattern, with its price rebounding from $0.000014.
• Since 2022, strong support has continued for SHIB, indicating it is well-established now.
• If the neckline stays strong, then moving to $0.000035 would offer 150% upside potential.

Shiba Inu (SHIB) price is flashing multiple bullish reversal signals across daily and weekly timeframes. The memecoin has reclaimed a key neckline after forming an inverse head and shoulders structure. Analysts believe a rally toward $0.000035 may follow if buyers maintain momentum.

Shiba Inu Price Confirmed Bullish Reversal at $0.000014

Shiba Inu price recently broke above a major neckline formed by an inverse head and shoulders pattern. Just above $0.000014 is a point that has acted as a resistance level in the coin for several months. After the previous pullback, SHIB price tried to regain support in this area again.

The retest confirms that demand remains strong at this key point. Daily price candles show multiple bounces from this zone. That confirms the “break-back” technical move described by analysts. As a result, the bullish argument becomes stronger and prepares the way for the next rise.

Moreover, Trader Cantonese Cat pointed out this formation and mentioned that it is more likely to lead to SHIB rally. As the neckline is serving as support, the price might rise toward $0.000017 and $0.00002. In 2023 and early 2024, these areas played a role in historical resistance.

Shiba Inu Long-term Support From 2022 Holds Firm

A further analysis by Crypto Catalysts pointed out that the 2022 horizontal base at $0.000014 supports SHIB price. The top meme coin has been evaluated several times, but has never lasted for long at this level. After each retest, the price has recovered well. This suggests that long-term holders remain in the zone.

According to Crypto Catalysts, there is a strong support zone visible on the weekly chart, stretching from $0.0000125 to $0.0000145. Regardless of the general market’s movement, price action remains inside these boundaries. If SHIB price stays above the 0.000014 level, the trend is still positive.

Moreover, it also points to a short-term upside aiming at $0.000035. That target represents a 150% move from current prices. It precedes the week with the largest rise before the current downturn.

Broadening Wedge Breakout Could Push SHIB to $0.000115

According to a recent analysis by Bitcoinsensus, there is a major bullish outlook in the long run. Since early 2023, SHIB price has been shaping a right-angled descending broadening wedge each week. Typically, it is followed by a breakout as price nears the channel’s bottom and trading volume rises.

SHIB price trading is occurring at around the base of that wedge right now. As a result, the area is considered a favorable place for buyers to enter the market. A break above the topside line of the wedge could see the price reach $0.000115. If this happens, Shiba Inu price would be up more than seven times from where it is today.

Bitcoinsensus pointed out that SHIB price has often responded to what is happening in the Ethereum space. Ethereum’s rise on different levels could give SHIB price strength, too.

What to Expect Next From SHIB Price

To stay on track, SHIB must hold above the $0.000014 neckline. A drop below this level could invalidate the inverse head and shoulders setup and send price back toward the wedge base.

If momentum continues, the next target is $0.000035. A clean breakout there could trigger a run toward $0.000115, supported by the wedge structure and historical price behavior.

With strong chart patterns on multiple timeframes, SHIB is gaining traction among traders. Many now await confirmation of breakout targets in the coming weeks.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.