Shiba Inu is preparing for a major breakout above $0.00001266. Can it surge to $0.000015, supported by bullish patterns and strong technical backing?
While the altcoin market struggles to recover, Bitcoin continues to trade above $88,000. Amid these conditions, hype-driven altcoins like meme coins are gradually gaining momentum.
The market cap of the meme coin segment has risen to $47.46 billion, with top performers like Shiba Inu recording a 5% surge over the past 7 days. Riding this short-term recovery, Shiba Inu is setting up for a major breakout from a strong bullish pattern. Will this breakout rally propel SHIB to $0.000015?
Shiba Inu Price Analysis
On the 4-hour chart, Shiba Inu’s price action reveals a bullish rebound from the psychological support level of $0.00001045. The recovery began with a double-bottom reversal and has since tested the $0.00001266 supply zone.
This zone is a crucial short-term resistance, coinciding with the 50% Fibonacci retracement level. Growing bullish sentiment is forming a bullish “Adam and Eve” pattern, with the neckline aligned with the 50% Fibonacci level.
The short-term recovery from the 23.60% retracement has pushed SHIB above the 50, 100, and 200 EMA lines on the 4-hour chart. However, this bullish move is accompanied by a short-term bearish divergence in the RSI. Despite this, the positive crossover among the 50, 100, and 200 EMAs improves momentum in shorter time frames.
Shiba Inu is currently trading around the 38.20% Fibonacci level at $0.00001210 and the upper resistance at $0.00001266. A successful breakout above the overhead supply zone could propel Shiba Inu toward the $0.00001534 target. On the downside, key support levels are found at $0.00001140 and the psychological level of $0.00001045.
Analyst Suggests Major Rebound in Shiba Inu
Crypto analyst Ali Martinez supports the case for a potential rally by pointing to a major rebound forming in Shiba Inu. On the weekly chart, the TD Sequential indicator has flashed a buy signal, indicating the potential for a fresh recovery.
Previously, Martinez highlighted key support zones at $0.0000115 and $0.00000815. Based on his analysis, the next major resistance lies at the $0.000020 supply zone.
#ShibaInu $SHIB may be gearing up for a major rebound, with the TD Sequential flashing a buy signal on the weekly chart! pic.twitter.com/GHQRRm0Fqq
— Ali (@ali_charts) April 21, 2025
Bulls Gradually Return to SHIB Derivatives
Over the past three days, the short-term recovery in Shiba Inu has led to increased long positions in the derivative market. As per the long-to-short ratio chart by Coinglass, the long positions in Shiba Inu have jumped from 47.19% to 49.77% in the past three days.
This shift has brought the long-to-short ratio up from 0.8936 to 0.9908, indicating a more balanced market sentiment. As bullish positions gradually increase, the probability of a breakout in Shiba Inu continues to rise.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
