SHIB Army Watches Closely: Descending Triangle Nears Apex

• SHIB forms a descending triangle, signaling a potential breakout if support holds.
• Volume surge and RSI rebound suggest fading bearish pressure and rising accumulation.
• Key resistance between $0.00001250–$0.00001300 could define SHIB’s short-term trend.

Shiba Inu (SHIB) faces a critical phase on its weekly chart, forming a descending triangle pattern indicative of a potential breakout. 

According to crypto analyst SHIB KNIGHT, SHIB’s price pattern is tightening within a descending triangle, often seen before a sharp move. This setup, combined with stabilizing market indicators, suggests a possible rally provided Bitcoin maintains its strength and doesn’t disrupt broader sentiment.

Over recent weeks, SHIB has traded in a narrowing range, forming lower highs while consistently bouncing from horizontal support near $0.00001167. This recurring price behavior highlights growing pressure at the base, hinting at a breakout. Currently priced at $0.00001188, SHIB has posted a modest 1.82% gain in the last 24 hours, despite recording a 1.18% drop over the past week.

$SHIB pattern is squeezing and it is getting ready for a break out at weekly chart.

I expe…

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