Technical analysis by MMBTtrader about Symbol SHIB: Buy recommendation (4 hour ago)

As observed on the SHIBUSDT chart, the price is undergoing a significant correction, consistently facing rejection at two distinct descending trendline resistance levels. Each test of these dynamic resistances has resulted in a sell-off. However, the current technical structure suggests a potential for an upside breakout. The primary scenario is a decisive break above the first, more immediate trendline. This initial breakout would project a move toward the second, higher trendline as the initial technical target. Following a potential consolidation period, a subsequent breakout above the second trendline would signal a much stronger bullish trend activation, potentially initiating a sustained and significant upward movement. DISCLAIMER: ((trade based on your own decision)) <