- SHIB is forming a bullish falling wedge pattern, signaling an upcoming decisive move.
- RSI at 40.65 and a flat MACD indicate consolidation with no strong bullish or bearish momentum.
- SHIB may see a slight dip before a potential rally toward higher price targets.
Shiba Inu (SHIB) is setting up for a potential breakout, eyeing higher price targets after a rough strip. SHIB has been hit hard by volatility, leading to a significant decline. For the past month the token experienced a 20% price decline while showing a 7% decrease in value during the previous week
As of March 14, 2025, Shiba Inu is trading at $ 0.00001253 with a price surge of 3.40%.The 24-hour trading volume of SHIB decreased by 21.42% to $185.39M although the market cap grew 2.82% to reach $ 7.38B while maintaining its market dominance at 0.27%.
SHIB Approaches Key Breakout Level Amid Falling Wedge Formation
According to TheCryptoExpres,the SHIB/USDT 4-hour chart is currently forming a falling wedge pattern, which is generally considered a bullish reversal formation. The price is trading just below the upper resistance trendline, indicating that SHIB is approaching a decisive breakout point.
Additionally, the 50-period moving average is acting as an overhead barrier, further restricting upward movement. The price shows consolidation trends within the wedge space by reaching $0.00001239 as its highest point and settling at $0.00001206 as its lowest level.
A bullish rally toward $0.00001300 – $0.00001350 may begin if SHIB manages to surpass both resistance trendline and the $0.00001240 – $0.00001250 zone thus fulfilling the breakout target of the wedge. Failure to break through resistance together with a downward breach of the lower trendline at $0.00001160 would cause this bullish setup to fail while pushing SHIB toward $0.00001120 or lower price levels. The rising stability in this trading zone means a substantial price movement is likely to occur.
SHIB Consolidates Amid Weak Momentum Signals
SHIB RSI is at 40.65, indicating that the asset is in a neutral-to-oversold territory, suggesting weak momentum but not yet in an extreme oversold condition.SHIB MACD line is currently trading below the signal line showing negative momentum .
Overall, the SHIB market exhibits consolidation patterns as traders await a trend breaking movement indicating directional shifts.
SHIB Price Prediction for March 15
Shiba Inu (SHIB) is expected to see a slight decline of 0.02% to trade at $ 0.00001250 ,with CoinCodex predicting a 121.90% rally by Mar 18, 2025, reaching $ 0.00002776.
