Shib forms a W-bottom pattern, which may indicate a trend reversal
According to Portalcripto news, Shiba Inu (SHIB) has seen a significant increase in market activity recently, with prices rising by more than 13% intraday, derivatives trading volume increasing by 165%, and on-chain trading volume also climbing sharply.
Technical analyst @CryptoELITES said that the SHIB/USDT chart has formed a "W-bottom" or "inverted head and shoulders" pattern, which may suggest the potential for a trend breakout in the short term. He believes that the recovery in market sentiment and the bullish technical signals may drive SHIB to a phased rise.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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