The post SHIB Price Analysis: Will Shiba Inu Dodge This Bear Attack? appeared first on Coinpedia Fintech News
The meme coins face higher than usual, with the overall market on the backfoot with increased selling pressure. Keeping the bullish trend under check, the sudden attack delays a wedge breakout rally in the SHIB price chart.
However, buyers restrain deep correction and avoid a bearish breakdown to keep the wedge pattern intact. High breakout anticipations with a new positive cycle support the bullish Shiba Inu price predictions.
Under constant bearish pressure, SHIB price action forms multiple lower high peaks. Moreover, the 50-day EMA provides a dynamic ceiling to keep the bullish growth in check. The intense overhead selling pressure reveals a descending trendline.
The descending trendlines on the daily chart formed with lower lows complete the falling wedge pattern. Shiba Inu showcases high inflow at the overhead trendline, leading to multiple negative cycles within the
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