SHIB Shows Structural Support: Double Bottom Hints at Reversal
Shiba Inu is undoubtedly painting a double bottom formation on its chart, which can be seen on TradingView, which is one of the market’s conventional reversal structures. Given the severity of the recent collapse, bulls will take advantage of any structural foothold they can. SHIB has now bounced twice, with comparable intensity in the $0.0000078-$0.0000080 zone, where the pattern was formed. In the lack of new catalysts, it at least shows that sellers are having trouble pushing the token any lower.
SHIB Double Bottom Hints at Potential Trend Change
A double bottom pattern in SHIB is a possible indication that the direction of the trend may change rather than a confirmed reversal. The 50-day, 100-day, and 200-day EMAs are steadily declining and are still much below the current price. This suggests significant bearish momentum, which could hamper continued upward growth. Any rebound attempts will likely confront a strong resistance zone between $0.0000093 and $0.0000105—a level that has consistently stopped price rises over the previous months. Furthermore, trading volume is still crucial since SHIB may not be able to overcome this stacked resistance barrier if there is not enough momentum.
Demand usually rises after a true double-bottom breakout. This suggests that purchasers are making aggressive interventions. However, SHIB’s volume remains flat and uninspiring. This area of the chart is opposed to the upward trend. At least some market enthusiasm is anticipated when a true turnaround is imminent. However, there isn’t any thrill. The pattern does, however, offer a practical arrangement.
Shiba Inu Could See Short-Term Upside Amid Weak Trend
The market may launch a temporary rise toward the 50-day EMA if SHIB is able to sustain its position above the $0.0000080 base. This upward momentum could be strengthened by a significant move through $0.0000090. That is not a trend reversal, but rather a relief rally, similar to beaten-down assets that often print after extended selling.
The reverse is easy. If SHIB loses the $0.0000080 floor, the double bottom fails, momentum crumbles, and the token may discover new lows. Although it is contingent, there is a technical and structural possibility. This double-bottom pattern might turn out to be little more than temporary noise in a continuing decline. Without increased volume and a break above local EMAs, the pattern is unlikely to suggest a true turnaround.
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