- SHIB forms a bullish wedge near key support, signaling a potential breakout ahead.
- Inverted Head & Shoulders confirms trend reversal, targets $0.000017 and $0.00002.
- Bullish MACD and RSI near 58 suggest growing momentum without overbought pressure.
Shiba Inu (SHIB) is once again attracting attention as it faces critical resistance near a bearish Exponential Moving Average (EMA) wall. After months of sideways movement, bulls are trying to reclaim momentum. Technical signals and chart patterns suggest a major breakout could be brewing.
Analysts remain optimistic that SHIB could deliver strong gains if key resistance levels fall. With the price currently hovering near $0.00001526 and a market cap nearing $9 billion, SHIB’s long-term setup looks promising.
Technical Structure Signals Reversal Potential
Over the past year, SHIB has been developing a right-angled descending broadening wedge pattern on the weekly chart. According to Bitcoinsensus, this structure often signals an impending breakout when prices approach the lower boundary.
Presently, SHIB trades near the wedge’s base, a zone often favored by value buyers. This technical setup could spark a bullish move toward the top of the channel, and possibly beyond.
Bitcoinsensus outlines a long-term price target of $0.000115, which represents a 720% surge from current levels. The pattern’s historical behavior supports this projection. Besides, rising volume near the wedge bottom adds weight to the bullish scenario.
$SHIB Bullish Weekly Analysis💹#ShibaInu has been forming this right angled descending broadening wedge pattern for more than a year now.
— Bitcoinsensus (@Bitcoinsensus) May 20, 2025
Price is now sitting close to the lower end of the channel, offering us an insane buying opportunity on spot to potentially target the… pic.twitter.com/5Rqy0gOUlp
Ethereum Correlation and Short-Term Patterns
Historically, SHIB tends to mirror trends in the Ethereum ecosystem. Any upward momentum in Ethereum often strengthens SHIB’s price action. This correlation adds another layer of bullish potential, especially as ETH remains in a recovery phase.
Meanwhile, technical analyst Cantonese Cat highlights an inverted Head & Shoulders formation on the daily chart. This pattern has recently completed, pointing toward a bullish continuation.
The neckline has transformed into a strong support level, increasing the odds of a move toward $0.000017 and $0.00002. These levels previously acted as strong resistance in 2023 and early 2024.
Indicators Support Positive Outlook
Momentum indicators also confirm a shift in sentiment. The MACD shows a bullish crossover, with the histogram in positive territory. This signals building buying pressure.
Additionally, the Relative Strength Index (RSI) sits at 58.07, just below the overbought threshold. There’s still room for further gains before overextension becomes a concern.
