Shiba Inu price remains range-bound on higher timeframes but is coiling into a pennant formation on the intraday chart. With higher lows in place, the probability leans toward a bullish breakout once volume confirms. Summary SHIB is trading in a year-long range between established highs and lows. Pennant formation is tightening around the Point of Control, nearing breakout. Higher lows favor a bullish move, but volume confirmation is required. Since the beginning of the year, Shiba Inu (SHIB) has been trading within a defined range, capped by resistance at the highs and supported by a firm base at the lows. This sideways structure has yet to be broken, but significant intraday developments suggest momentum may soon shift. Currently, price action is forming a pennant pattern, converging around the Point of Control where volume is heavily concentrated. As this apex nears completion, traders are preparing for a decisive move. Key Technical Points Range-Bound Market: SHIB continues to trade between well-established range-high resistance and range-low support. Pennant Formation: Price action is compressing into an apex around the Point of Control, with volume notably declining. Bullish Bias: Consecutive higher lows lean toward an upside breakout, contingent on strong volume influx. SHIBUSDT (1D) Chart, Source: TradingView SHIB’s macro structure highlights a year-long range, with price action repeatedly rotating between the highs and lows. This sideways trading has defined the broader market context, but each rotation has offered significant trading opportunities. As price compresses within the range’s mid-zone, the market is now entering a critical stage. The intraday pennant structure, built on converging dynamic support and resistance, signals tightening conditions. With the Point of Control sitting within this apex, the current trade location is one of high liquidity and volume concentration. Typically, such conditions precede high-volatility breakouts. One of the most notable bullish signals is the consistent formation of higher lows within the pennant. This pattern of upward pressure suggests accumulation and positions buyers favorably ahead of the breakout. While resistance remains firm, the underlying structure tilts toward a bullish outcome if momentum accelerates. Volume remains the missing ingredient. The declining profile reflects the compression phase but also sets the stage for a clear confirmation signal. A surge in bullish volume as price tests the apex would validate the breakout and provide the momentum needed to sustain a move toward the range high. What to expect in the coming price action Shiba Inu is nearing a pennant breakout, with the structure completing in the short term. If volume confirms, SHIB is likely to rally toward the range-high resistance, continuing its sequence of higher lows and signaling bullish momentum.
