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Cryptocurrency News Articles
SHIBA INU (SHIB) Has Formed a Falling Wedge Pattern
May 20, 2025 at 04:26 pm
SHIBA INU (SHIB) has formed a falling wedge pattern, visible on the 4-hour chart dated May 20, 2025. The formation begins at the May 11 high
Shiba Inu (SHIB) price has formed a Falling Wedge technical pattern, which is visible on the 4-hour chart dated May 20. The formation begins at the May 11 high, showing two downward-sloping, converging trendlines that form the wedge structure. Within this narrowing range, the price continues to move lower.
However, a Falling Wedge is typically viewed as a pattern that signals weakening selling momentum. As prices make lower highs and lower lows, the declines are becoming smaller with each swing. This pattern suggests that the bearish pressure may be exhausting itself.
If SHIB breaks above the upper trendline, it could mark a shift away from the bearish pressure that has been prevalent since March.
As of the chart time, SHIB trades at $0.00001447. The wedge resistance and the 50-period Exponential Moving Average (EMA) intersect near $0.00
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