- SHIB consolidates near $0.00001291 with a strong base formed inside a major support accumulation zone.
- Chart structure shows resistance as the next key test for SHIB if momentum builds above $0.00001291.
- A breakout projection signals sharp upside moves if price clears the descending resistance with volume support.
SHIB is trading at $0.00001291 as charts show a possible breakout structure forming above a long-standing descending trendline. On the daily Binance chart, SHIB trades around $0.00001291, with recent candles showing attempts to stabilize above the $0.00001280 range. The token has tested multiple bottoms within a highlighted accumulation zone, reinforcing the area as a key support band.
The descending trendline has capped several rally attempts in previous weeks. Price now approaches this resistance, building conditions for a potential breakout. Chart mapping outlines a projected bullish trajectory that could follow if this level is broken decisively.
SHIB volume activity aligns with its consolidation structure. Periods of tightening price movement near critical zones often precede sharp directional moves, and traders are watching this pattern closely.
Chart Projections and Support Zone
The highlighted blue box marks SHIB’s strong support structure, where repeated price bounces occurred. Each return to this zone has been met with buyer response, suggesting that demand clusters remain active. The consolidation within this box strengthens the base for any potential breakout attempts.
The projected move, illustrated on the chart, shows an upward trajectory extending well beyond the current range. The structure indicates that once SHIB clears the descending resistance, momentum could drive rapid extensions to higher levels. The charted arrow path anticipates sharp gains if volume accompanies the breakout.
The daily resistance trendline is the critical barrier. A confirmed move above this level could trigger the outlined path higher. Traders note that previous failed rallies all stalled at this trendline, highlighting its importance. Sustaining price above it would confirm the change in market direction.
The presence of multiple wicks rejecting lower levels within the support area further confirms strong defensive action by buyers. This adds to the probability that SHIB may attempt a new breakout from its current positioning.
A Pivotal Question for Traders
Can Shiba Inu sustain momentum above $0.00001291 and deliver the breakout projected on the chart? This remains the central question as traders analyze price movements. Confirmation above the descending resistance line is required to validate the bullish trajectory. Without this confirmation, SHIB risks extended consolidation within its support box.
Market participants are closely monitoring reaction points. Each move near $0.00001280 to $0.00001300 provides clues about whether SHIB builds momentum or continues ranging. If the outlined projection plays out, SHIB could accelerate quickly once resistance is breached.
The outlined setup mirrors previous structures in which SHIB moved sideways before launching higher. Traders seeking guidance in volatile ranges often reference these historical patterns, which adds weight to the current expectation of an impending move.
Community discussions highlight growing anticipation, with calls for a potential rally gaining traction. The chart posted emphasizes that SHIB may be on the verge of a significant breakout if the structure holds.
With price positioned directly below its descending resistance, the next few trading sessions could determine whether SHIB confirms the path projected on the chart or returns for further consolidation within the $0.00001200 to $0.00001300 range.
