Shiba Inu (SHIB) is trading just above $0.0000146, forming a descending triangle on the four-hour chart. This setup has developed over the past two weeks and is nearing a critical point.
The pattern shows a series of lower highs, compressing the price against firm support at $0.0000143. As the range continues to shrink, both buyers and sellers are experiencing stronger pressure.
Should the breakup happen on the upside, SHIB might reach the goal of $0.0000175. A price break below support might drop the coin all the way down to $0.0000134.
According to @ali_charts, SHIB is consolidating within a triangle and is “awaiting a 17% price move.” His analysis of recent charts found that the range is tightening, and Fibonacci points matter. It’s easy to spot how the descending triangle is drawn in the chart, marked by $0.00001430 as key support and a trendline limiting the recent gains.
Source: Ali-Chart
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Cautious Optimism Grows as SHIB Prepares for Breakout
In May, SHIB posted a 7.8 percent gain, offering some relief after a difficult first quarter. Earlier this year, the token suffered losses of more than 40 percent, but Q2 has delivered a 15.3 percent recovery so far.
Despite the rebound, SHIB remains locked within the triangle, with no clear momentum in either direction. The tightening formation continues to signal that a significant price move is likely imminent.
Traders are also factoring in historical performance data as they look ahead to June. SHIB has averaged losses of 15.1 percent during that month in previous years, adding to the cautious outlook.
As the market awaits a resolution, participants remain focused on key levels that could determine the next trend. The outcome of this setup may influence SHIB’s direction heading into the summer period.
SHIB is nearing the apex of a descending triangle after nearly two weeks of consolidation. A decisive 17 percent move is expected soon, and market participants are closely watching for a breakout.
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