Shiba Inu (SHIB) has recently caught the attention of traders and investors as it forms an ascending triangle pattern on the price chart. This technical pattern is characterized by higher lows, converging with a horizontal resistance level. The current price of SHIB stands at $0.00000789, experiencing a meager 1% in increase in the last 24 hours and recording a modest seven-day gain of 0.6%, data from CoinGecko shows. However, the real excitement lies in the potential breakout that could lead to a fresh prolonged recovery for the cryptocurrency from this ascending triangle pattern. Source: Coingecko Shiba Inu Ascending Triangle Pattern Explained An ascending triangle pattern is a technical chart formation characterized by higher lows and a horizontal resistance line. Traders often interpret this as a potential bullish signal. As the price approaches the flat resistance line, it indicates that buyers are becoming more aggressive, creating higher lows. This pattern suggests that a breakout to the upside is more likely than a breakdown to the downside. Related Reading: Cardano TVL – A Crucial Factor For ADA Price Revival? Currently, Shiba Inu’s pri ..
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