Price Tracking of Shiba Inu Token
The price of Shiba Inu (SHIB) is seeking to exit a bullish trend. The most likely price forecast indicates a successful breakout will occur, even if there are no clear indications of when this would happen.
Since reaching a peak of $0.00001800 on August 14, the SHIB price has been falling. The trend has so far resulted in a low of $0.00000924 on October 14. The SHIB price still fluctuates between the lower end of the $0.00000980 and $0.00001190 range despite the rebound. More recently, on September 24, it was denied by the higher part of the range and started descending again toward the range’s base.
![Shiba Inu Price Range, Credit: Twitter](https://5minutecoins.com/wp-content/uploads/2022/08/Credit-Twitter.jpg)
Possible Price Shifts
Descending wedges are seen as bullish patterns because they frequently result in breakouts. In conclusion, a flight of the SHIB price is anticipated since it has been trading near the resistance level of a bullish formation. If so, a move in the direction of the zone high of $0.00001190 would be anticipated.
A six-hour RSI advance would probably precede the breakout over 50. As a result, it might be seen as an indication that prices will rise.
The scenario would be invalidated if there was a decline below the zone low of $0.00000980, which would change the story. It would instead imply that reduced prices are anticipated.