Shiba Inu eyes 50% rally as SHIB price enters ‘cup-and-handle’ breakout mode

2022.08.15 19:57

Shiba Inu eyes 50% rally as SHIB price enters ‘cup-and-handle’ breakout mode

Shiba Inu (SHIB) broke out of its prevailing “cup-and-handle” pattern on Aug. 14, raising its prospects of securing additional gains in the coming weeks.

A cup-and-handle appears when the price falls and rises in a U-shaped trajectory in the first stage, followed by a swift move sideways or downward in the second. Notably, the price trend develops under a common resistance level.

Source