Shiba Inu (SHIB) fetches 30% gain on Robinhood listing rumor and bullish chart pattern

Shiba Inu (SHIB) seems to be preparing for a bullish breakout as a falling wedge pattern begins to form.

The price of SHIB has been trending lower inside an area defined by two contracting trendlines while accompanying a decline in trading volume. That shows that investors have been less concerned about the downtrend.  

As a result, falling wedges typically provide an ideal springboard for an upside break once the price closes above the structure’s upper trendline. On Thursday, SHIB showed signs of following a similar topside break.

SHIB/USDT daily price chart featuring a falling wedge. Source: Fiery Trading 

Notably, the token briefly closed above the falling wedge’s upper trendline, hitting an intraday high of $0.00003290. The upside move raised anticipation that SHIB would continue its trend higher in the coming sessions, with Fiery Trading analysts noting that an ongoing bullish retracement across the crypto market would further boost the altcoin’s upside bias.

The analysts said,

“With the

Keep reading this article on Cointelegraph.com.

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