2025-08-09 10:31:42

#Altcoins Rally A Bearish Pennant Signals a Shiba Inu Price Collapse

On the 2-day price chart, SHIB is forming a pennant pattern, which could break in either direction. However, the price is currently trading near the pennant's lower trendline, around $0.00001158, and a clear break below this level could signal a complete pattern breakout. The Shiba Inu price has attempted several rebounds from the lower trendline.
Additionally, the Average Directional Index (ADX) has weakened. It fell from 22 in mid-July to 18.4, indicating waning overall trend strength. A falling ADX near a pattern's support line typically indicates that the price is likely to decline without strong buying interest.
The Average Directional Index (ADX) measures the strength of a price trend, whether it's trending upwards or downwards. A falling ADX indicates that the trend is weakening and not gaining momentum.
If SHIB loses support at $0.0000115, it could fall further, as confirmed by the Input/Output settings. However, for this bearish setting to be invalidated, SHIB must first break above $0.0000132 and $0.0000137. However, if it can break above the pennant resistance, particularly around $0.0000150, the trend will turn bullish.#Gate & WLFI USD1 Points Program #Trump Allows 401(k) Crypto Investing #Join Copy Trading Share to Win $2,000

SHIB1,51%

IN-4,54%

CLEAR-0,18%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.