Will #SHIB Continue Pumping or a Bull Trap is Waiting for Bulls?Yello, Paradisers! Will #SHIBUSDT continue flying, or are we about to witness a brutal rejection straight into the demand abyss? Let’s break it down.
💎#SHIB has recently broken out of a Descending Broadening Wedge Formation on the 4H chart, a pattern that historically signals potential bullish reversals. This breakout was strong, but the price has now hit a critical Supply Zone between 0.00001530 – 0.00001650, and has already shown signs of rejection from this area.
💎The structure shows #SHIBUSD facing Strong Resistance just below 0.00001711—a level that acts as Bearish Setup Invalidation. If the price closes decisively above this zone, bears will lose control, and we could see a sharp squeeze up toward 0.00001900.
💎However, the more probable scenario for now is a retest and rejection from the supply zone, followed by a deeper pullback. Based on volume profile and historical price behavior, the Support Zone around 0.00001181 is a key level to watch for a possible bounce. If this level is lost, SHIB could fall to sweep the swing low (SH) at 0.00001081 to complete a liquidity grab before resuming any bullish trend.
💎RSI is currently near overbought territory, suggesting SHIB may be due for a short-term correction or consolidation. This lines up with the visual expectation of a potential ABC correction back into support, where Wave A has started and Wave B might complete soon.
Patience and precision are key in these conditions wait for strong confirmation before making your moves.
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