SHIB traded through a series of structured patterns throughout the session, starting with a move off the daily low at $0.00001316. The price broke upward from an early range, forming a spike and expanding triangle. However, the move faded after RSI entered overbought territory, and the triangle broke down, leading to further declines, a new range, and a converging triangle formed during the retracement. RSI briefly touched oversold levels before the price rebounded. A Golden Cross in MACD supported a late-session breakout, forming an upward-moving channel. The SHIB token demonstrated range-driven price action, alternating bullish and bearish momentum signals. Let’s take a look at SHIB price analysis to see what it looks like on the chart.
SHIB Price Analysis for April 29, 2025
After marking the low for the day at $0.00001316, SHIB moved to the upside and formed a range. The range broke out to the upside at 05:50 UTC, supported by a Golden Cross of MACD. Price moved to the upside, creating a spike and an expanding triangle pattern. In the meantime, at 06:45 UTC, RSI moved above level 70, indicating overbought market conditions and suggesting a reversal or at least a pullback. The expanding triangle marked the high for the day at $0.00001421. The expanding triangle broke out to the downside at 11:45 UTC, supported by a Death Cross of MACD.
Price spiked to the downside and formed a small range. The range broke out to the downside at 13:25 UTC, supported by a Death Cross of MACD. Price moved further to the downside and formed a converging triangle pattern. In the meantime, at 13:35 UTC, RSI dropped below 30, indicating oversold market conditions. The converging triangle broke out to the upside at 17:40 UTC, supported by a Golden Cross of MACD. Price spiked to the upside and formed an upward-moving channel. The day is considered to be a range day for the SHIB price.
Impending SHIB Breakout or Breakdown Ahead?
From the start of the day, SHIB consolidated inside a small range with RSI and MACD hovering near their base levels, suggesting substantial consolidation in the price. If the range breaks out to the upside, the price may break its previous high of $0.00001421. If the range breaks out to the downside, the price may drop to $0.00001300. On the other hand, if the SHIB price cannot break these two critical levels, it may continue to consolidate in the coming sessions. These two are the necessary levels for the SHIB token to fail to form a strong trend.
SHIB Awaits Breakout From Key Levels
A consolidation pattern is keeping the price movement of SHIB confined between support at $0.00001300 and resistance at $0.00001421. If SHIB surpasses resistance, it might spark renewed upward momentum. The SHIB breakout of $0.00001300 will indicate additional downward pressure on SHIB. RSI and MACD oscillate close to their baseline positions, which signals market stability with minimum price fluctuations. Before entering directional trades, traders should monitor SHIB closely because it stays within this limited price zone. This coin’s next significant price movement will probably emerge through either of these crucial levels, as their breakthrough establishes the direction for upcoming trading sessions.
SHIB Price Analysis of May 1, 2025
SHIB formed the range with resistance at $0.00001350 and support at $0.00001330. Some patterns have formed within this range. The first one is an upward-moving channel, which broke out to the downside at 05:40 UTC, supported by a death crossover of the MACD. The price spiked to the downside and formed a converging triangle pattern, but could not break the support area. The converging triangle pattern broke out to the upside at 08:10 UTC and formed an expanding triangle pattern.
The expanding triangle pattern failed to break out to either side. A minor range appeared near the resistance area, which marked the high for the day at $0.00001355, and the price broke out from the range to the downside at 12:05 UTC. The momentum from the small range was strong enough to break the support area at 12:35 UTC, supported by a death cross of the MACD. The price spiked to the downside and marked the low for that day at $0.00001280.
In the meantime, at 12:45 UTC, the RSI dropped below the level of 30, indicating an oversold market condition, suggesting a reversal or at least a pullback from the SHIB breakout from the trading range. A small range appeared in the SHIB price, which broke out to the upside at 16:35 UTC, supported by a golden cross of the MACD. The price spiked to the upside and formed a downward-moving channel. The downward-moving channel again broke out to the upside at 19:45 UTC, supported by a golden crossover of the MACD.
Shiba Inu’s Rangebound Struggle: When Will the Deadlock Break?
After surpassing charts in a descending pattern, SHIB prices climbed up before developing another downward-moving channel that finally broke the upper boundary at 23:10 UTC with MACD crossing above. The RSI indicator reached 70 at 20:25 UTC, and this developed an overbought market signal, which might lead to a trend reversal or momentary pullback in the present upward pattern. The price displayed a small converging triangular pattern until it broke downward at 02:30 UTC.
A death cross of the MACD supported the breakout. The price spiked to the downside from the converging triangle and formed a small range. The range broke out to the downside at 03:50 UTC, supported by the death cross of the MACD. The SHIB breakout from the range failed to form a spike to the downside; instead, the price reversed and again filled the small range. This indicates the range behavior in the SHIB price, which could continue.
The SHIB token requires a strong breakout of $0.00001350 or $0.00001280 levels because these points represent past resistance and support areas, respectively. A strong market trend for SHIB Token seems unlikely if it fails to surpass these crucial support and resistance levels, which stand at $0.00001350 and $0.00001280, respectively.
SHIB’s Endless Pattern Cycle: Triangles, Channels, and Failed Breakouts
The SHIB token remains range-bound between key levels at $0.00001350 resistance and $0.00001280 support. Multiple patterns have failed to establish a sustained breakout, including channels, triangles, and micro-ranges. MACD Death Crosses and Golden Crosses support short-term moves, while RSI signals indicate frequent overbought and oversold conditions. Despite several breakouts, momentum has been inconsistent, with price often returning to previous ranges. A lasting period of lack of decision will persist unless SHIB achieves decisive moves above $0.00001350 or below $0.00001280. The key levels should receive trader attention for trend changes, but traders must be aware of potential false breakouts in the consolidation area.
About The Author
