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SHIB could finally be setting up for a breakout after months of going sideways. According to crypto analyst Crypto Feras, the meme coin could be at or in the final stages of its accumulation phase, and breaking above $0.00001546 could be the spark that sets off a big rally.

SHIB price is now trading at $0.00001291, resisting even as the broader market loses a bit of steam.

In a thread shared by TheCryptoBasic on X(Formerly Twitter), Feras explained that SHIB has been trading inside a tight range between $0.000011 and $0.00001546 for about eight months. That kind of long consolidation, he says, often builds the base for a strong move up once momentum shifts.

Feras believes that if SHIB price can close decisively above $0.00001546, it could open the door for a sharp move higher, possibly all the way to $0.00002462. 

That’s roughly a 100% gain from current levels. He also hinted that if the breakout holds, SHIB could even “deliver multiple Xs” as buyers step back in.

On the SHIB chart, the price has been rebounding off a good support area ranging from $0.00001100 to $0.00001154, with persistent buying demand. As soon as the price fell towards that range, bulls jumped in and reversed it.

The top boundary, approximately $0.00001546, has served as good resistance, but successive attempts at testing that level mean pressure is mounting.

If the price of SHIB eventually crosses over that line and holds it, experts say it would confirm the start of a new bull cycle. On the other hand, not being able to hold support under $0.00001100 would most likely mean the accumulation phase has failed and sellers have taken control again.

Read Also: Analyst Javon Marks Predicts 150% Shiba Inu (SHIB) Rally: Here’s Why

Not everyone agrees on how quickly SHIB could move. Another analyst, CW, pointed out that $0.00001550 might act as a major “sell wall,” where many traders could take profits and slow the rally.

Still, SHIB price action has been quietly improving, up about 6% over the past week and 2.7% this month. After nearly eight months of sideways trading, traders are watching the $0.00001546 mark as the make-or-break level that could finally decide Shiba Inu’s next big move.

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The post Analyst Says Shiba Inu (SHIB) Price Is Headed For a Rally – Here’s What the Chart Reveals appeared first on CaptainAltcoin.

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