Shiba Inu Price Chart Analysis: Ready to Fly Now?
Shiba Inu (SHIB) coin has witnessed steep correction for quite some time and now consolidating for a long time. On the hourly chart, as of now, SHIB is trading inside a double symmetrical triangle continuation which shows the distribution is finally over and a breakout can come anytime.
Also, the Rate of Change Indicator has crossed above zero indicating the trend may have finally ended and the rally may start soon. It is currently taking support on the white line.
This is why keep a close eye on Shiba Inu’s price as it may surprise you with a price hike. SHIB has already surprised the investors as it went to touch $0.0000885 on October 28 after rallying 220% in roughly six days.
As shown in the chart, the alligator channel has also smoothened a lot indicating volatility contraction. Now, see on the daily chart, how beautifully it is following the long-term support line. It’s also on the 0.38 Fibonacci line on the daily chart.
The trade setup looks perfect and the SHIBU seems to be ready to fly for here. You can start accumulating from here. No wonder, it may break ATH.