Shiba Inu Elliott Wave Analysis

Shiba Inu hourly chart

As seen in the hourly chart, the crypto currency is moving in an accumulation pattern and can move higher from current levels once the level of $0.00000876 is taken out decisively. The mentioned level is the breakout level of an inverse head and shoulder pattern.

Also as per Wave theory, prices are moving in a ending diagonal pattern where it has completed all five legs internally and can move higher from here as there is a clear bullish breakout.

The summation is prices are likely to test $0.00001263 over short term, once the level of $0.00000876 is surpassed decisively.


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