SHIB has had a great run recently, there is no denying that. But is it actually done?
If we drop to lower timeframes ie 1h, we can see there is an upper and lower trendline support that is holding so far. We’ve had a few attempts to break to the upside but price keeps getting knocked down before quickly bouncing back.
The OBV is also putting in an upper trendline and has had multiple touches.
As price stays between the trendlines it is being compressed, and will soon spring out to either side.
Based on what we are seeing it seems likely that there will be a break to the upside.
If this happens, expect a quick run to 3000 sats.
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