Shiba Inu Eyes 100% Rally as Technical Analysis Points to Channel Breakout

Quick Summary:

Despite recording its third consecutive weekly decline, Shiba Inu shows signs of potential trend reversal as technical analysis reveals a promising breakout pattern.

The meme cryptocurrency’s recent price action, while bearish on the surface, may be setting the stage for a significant upward movement according to respected analyst Rose Premium.

This confluence of technical factors – the channel breakout potential, clearly defined resistance levels, and strong Fibonacci support – creates an intriguing setup for SHIB as it attempts to reverse its recent downward trend and potentially challenge previous highs.

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Article Details

Author / Journalist: Vignesh k

Category: Crypto

Markets: United Arab Emirates

Topics: Shiba Inu SHIB Altcoin News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-30 @ 18:00:00 (5 days ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 301 words

Reading Time: 2 minutes read

Sentences: 18 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 24763160

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 7 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 14 hours ago

Coverage Areas: United Arab Emirates

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #125

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