Key Insights:
- SHIB is forming an inverse head-and-shoulders pattern on the 4-hour chart, signaling a potential price reversal.
- The MACD on SHIB’s daily chart shows increasing bullish momentum, supporting the case for a breakout above key resistance.
- Shiba Inu’s partnership with Unity Nodes boosts its real-world utility, allowing users to earn rewards in SHIB through telecom-based infrastructure.
Shiba Inu (SHIB) is currently trading near key support levels as market sentiment grows more optimistic. A fresh partnership with Unity Nodes has added utility to the token, offering increased real-world applications. This new development, along with bullish chart patterns, has spurred renewed interest from buyers, setting the stage for potential price movement.
On the 4-hour chart, Shiba Inu is forming a well-defined inverse head-and-shoulders pattern. The price action started with a sharp decline to a familiar support zone, followed by a quick recovery. After a deeper dip to form the “head” of the pattern, SHIB tested the area again, bouncing back with stronger buyer interest. A higher low formed on the right shoulder further solidified the reversal, confirming the growing bullish momentum.
At its current price of $0.00000936, SHIB is nearing a critical neckline. This level has been tested several times, and each attempt to break it has squeezed the remaining room for buyers. A clean breakout above this region could send SHIB to the $0.00001025 level initially, followed by a potential move to $0.00001130.
Daily Chart Shows Strength as MACD Indicates Buy Pressure
Looking at the daily chart, SHIB is pressing against the upper boundary of a descending channel. The price remains above a well-established demand zone where reactions have historically been frequent. This support zone often acts as a springboard for upward price movements. Furthermore, the MACD indicator is showing signs of strength, with the MACD line staying above the signal line and green histogram bars increasing. This indicates a building buying interest, providing further support for the possibility of a breakout.
Shiba Inu’s recent partnership with Unity Nodes has expanded its utility beyond the meme coin narrative. Through this partnership, users can now purchase nodes and licenses using SHIB, integrating the token into telecom-based infrastructure. Additionally, Unity’s system allows SHIB holders to earn rewards and access NFTs tied to the Shiba Inu ecosystem. This move strengthens SHIB’s real-world utility and is likely to attract more long-term holders and institutional interest.
As SHIB nears key resistance levels on the chart, the combination of strong technical signals and expanding utility could propel the token to higher levels. The ongoing partnership with Unity Nodes adds a practical layer to SHIB’s appeal, broadening its use case beyond speculation. If the price manages to break key levels, SHIB could see continued upward movement, making this an important period for the token.
