Technical analysis by MMBTtrader about Symbol SHIB: Buy recommendation (19 hour ago)

The asset has been consolidating within a well-defined, prolonged trading range for an extended period, exhibiting low volatility and diminished trading volume. While this can test a trader's patience, such periods of compression are often the precursor to a significant directional move, as energy accumulates within the range. Our technical analysis suggests a growing probability of an eventual resolution to the upside. The critical technical level that will confirm this bias is a decisive breakout and sustained close above the upper boundary of this multi-year range. Upon a confirmed breakout, the initial objective would be a retest and subsequent breach of the key descending trendline (marked in red). A successful break above this dynamic resistance would serve as a powerful secondary confirmation of a major trend reversal. This sequence of events—range breakout followed by trendline breakout—would likely catalyze a strong bullish impulse, generating the momentum required to propel the asset toward our primary technical targets as outlined on the higher timeframes. DISCLAIMER: ((trade based on your own decision)) <