The descending triangle formation is starting to tighten, creating a pressure that often precedes an explosive breakout. This has led to a tilt toward the bullish scenario of Shiba Inu breaking above the upper trendline of the triangle. However, this depends on whether it can bounce at the support convincingly. If the support continues to hold, this pattern could be the springboard for a push to a bullish run.
For this scenario to play out, SHIB must continue to defend its established support zone between $0.00001200 and $0.00001224. A breakdown below this base would invalidate the bullish outlook, leaving the meme coin vulnerable to another fall to the deeper support levels around $0.00001080.
