- SHIB trades at 0.00001182 with repeated rebounds showing strong support ahead of October momentum.
- Chart projections highlight 0.00001700 as the next major target if resistance breaks with volume.
- Community optimism rises as Uptober posts spark excitement for a possible new all time high.
Shiba Inu’s chart pattern suggests a potential breakout in October, with traders eyeing a move toward a new all-time high (ATH). A recent post from Shib Spain outlined an optimistic technical projection, fueling speculation of a powerful rally ahead.
Chart Signals Point to Upside
The chart shared shows SHIB trading near support within a defined accumulation zone. Price action indicates resilience after multiple tests of this support. Traders observed repeated rebounds, confirming strength at this key level.
A descending resistance line has capped previous rallies, but the projection shows SHIB breaking above it decisively. The outlined path suggests a sharp recovery from the current consolidation, followed by a breakout through the descending trendline.
If momentum aligns with the projection, SHIB could stage a rally of significant scale. The projected move points toward levels above 0.00001700, suggesting potential for a new ATH. This would mark a strong reversal from the recent lows of around 0.00001150.
The visual analysis suggests a step pattern where SHIB breaks resistance, retests, and then accelerates upward. This type of setup often strengthens conviction among traders. With October historically linked to strong crypto gains, optimism is running high for Shiba Inu.
Community Reaction and Market Context
Shib Spain’s post on X drew strong engagement, with the message: “Uptober New ATH Incoming.” The chart was accompanied by bullish commentary, sparking excitement among followers. Comments included phrases like “To the moon” and “LFG,” reflecting confidence within the community.
The timing of the post is notable, as traders often link October with historic rallies in cryptocurrency markets. The term “Uptober” has become associated with seasonal optimism and price surges. This context amplified interest in SHIB’s outlook, strengthening bullish sentiment.
The SHIB/USDT pair currently trades near 0.00001182 on Binance. Despite recent retracements, the setup points toward renewed momentum. Technical watchers highlighted the importance of maintaining support before challenging overhead resistance. Market liquidity remains strong, with significant trading activity in SHIB visible on Binance charts.
Investor discussions also noted the repeated testing of the support zone, which could signal a base for the next leg upward. Traders highlighted that such zones often attract accumulation before decisive breakouts. If buying pressure increases, SHIB could gather enough momentum to challenge long-term resistance.
Can SHIB Break the Downtrend?
The key question now: can Shiba Inu sustain momentum to break out of its long-standing downtrend and reclaim new highs? The projection suggests SHIB will bounce strongly from support and pierce the descending resistance. A potential retest of the breakout zone may follow, confirming trend reversal before advancing further.
Community confidence remains strong, and volume spikes could validate the breakout. Traders will be watching the reaction at the resistance trendline closely. A decisive move higher could attract more buyers, accelerating SHIB’s climb.
Market participants also continue to use hashtags and visual charts to fuel sentiment. The imagery of rockets and fire emojis featured heavily in the responses, signaling enthusiasm from holders. This widespread online momentum has historically played a role in Shiba Inu’s market moves.
If the projected rally unfolds, October could prove pivotal for SHIB’s journey. A move beyond the resistance line could open the door to price levels not seen in years. The chart shared on X points to a breakout path that, if followed, may place Shiba Inu among the top-performing tokens of the month.