SHIB Price Presses Against Breakout Wall: Next Stop $0.00001599?
The post SHIB Price Presses Against Breakout Wall: Next Stop $0.00001599? appeared on BitcoinEthereumNews.com. TLDR: SHIB price approaches $0.00001438 breakout level after rebounding from early August multi-week lows. Token burn rate surges 333% in 7 days, removing over 101M SHIB from circulation and tightening supply. Resistance stands at $0.00001469 and $0.00001518, with $0.00001599 as July’s key high if momentum holds. Stablecoin partnership and governance overhaul aim to strengthen Shiba Inu’s DeFi role and liquidity. Shiba Inu is edging toward a technical breakout that could pull prices back to July highs. Traders are watching the $0.00001438 mark closely as momentum builds. The move follows weeks of recovery from early August’s multi-week lows. Market chatter points to a mix of technical signals and fresh ecosystem plans driving sentiment. Still, the path higher faces resistance that could slow the rally. SHIB Price Approaches Key Breakout Level Shiba Inu’s price action is pushing against the top of a symmetrical triangle pattern that has been forming since late July. Data from Coinpedia Markets shows the token trading near $0.00001369, closing in on the $0.00001438 breakout trigger. Traders see this level as the first major step toward regaining momentum lost in the late July correction. The recovery began after SHIB dropped to around $0.0000121 in early August, its lowest in several weeks. That decline was followed by steady higher lows, creating an ascending support line on the chart. On the upside, the pattern’s descending resistance now meets price in the $0.0000138–$0.0000140 zone, putting the market on alert for a decisive move. If buyers clear $0.00001438 on a daily close, analysts point to immediate resistance at $0.00001469. Beyond that, $0.00001518 could be tested, with $0.00001599 marking the late July peak. Failure to maintain $0.00001280 support, however, could reverse the setup and open a path toward $0.0000121 or even $0.0000112. $SHIB is breaking out of a symmetrical triangle, with a move above…
The post SHIB Price Presses Against Breakout Wall: Next Stop $0.00001599? appeared on BitcoinEthereumNews.com.
TLDR: SHIB price approaches $0.00001438 breakout level after rebounding from early August multi-week lows. Token burn rate surges 333% in 7 days, removing over 101M SHIB from circulation and tightening supply. Resistance stands at $0.00001469 and $0.00001518, with $0.00001599 as July’s key high if momentum holds. Stablecoin partnership and governance overhaul aim to strengthen Shiba Inu’s DeFi role and liquidity. Shiba Inu is edging toward a technical breakout that could pull prices back to July highs. Traders are watching the $0.00001438 mark closely as momentum builds. The move follows weeks of recovery from early August’s multi-week lows. Market chatter points to a mix of technical signals and fresh ecosystem plans driving sentiment. Still, the path higher faces resistance that could slow the rally. SHIB Price Approaches Key Breakout Level Shiba Inu’s price action is pushing against the top of a symmetrical triangle pattern that has been forming since late July. Data from Coinpedia Markets shows the token trading near $0.00001369, closing in on the $0.00001438 breakout trigger. Traders see this level as the first major step toward regaining momentum lost in the late July correction. The recovery began after SHIB dropped to around $0.0000121 in early August, its lowest in several weeks. That decline was followed by steady higher lows, creating an ascending support line on the chart. On the upside, the pattern’s descending resistance now meets price in the $0.0000138–$0.0000140 zone, putting the market on alert for a decisive move. If buyers clear $0.00001438 on a daily close, analysts point to immediate resistance at $0.00001469. Beyond that, $0.00001518 could be tested, with $0.00001599 marking the late July peak. Failure to maintain $0.00001280 support, however, could reverse the setup and open a path toward $0.0000121 or even $0.0000112. $SHIB is breaking out of a symmetrical triangle, with a move above…
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