Shiba Inu has been locked in a downward channel, marking lower lows and lower highs over time. That long squeeze has now shaped into a symmetrical triangle, where pressure is building between falling resistance and rising support.
A chart shared by Butterfly on X shows SHIB pushing right at the edge of that structure. If SHIB token can hold during the ongoing retest, the setup could flip into a breakout that changes the direction of Shiba Inu price.
What the Chart Means for SHIB Price
A symmetrical triangle appears when highs trend lower and lows trend higher over time. The pattern on the 2-Day timeframe tightens across several months and points to a narrowing range. A breakout above the upper trendline would change the immediate technical picture for SHIB price.
A retest happens when price returns to the breakout line and holds, confirming that the break had substance rather than being a false move. Butterfly called that retest on the 2D timeframe a key validation step and noted signs of building momentum under the surface.
Symmetrical triangles can break either way, but in this case, a clean close above the top line gives a clearer bullish read. Price action earlier this year fell into a longer downtrend before the triangle emerged. That earlier move then gave way to a period of sideways action that carved the two converging trendlines.
A successful retest following this last breakout would mark a change from consolidation to directional momentum. Failure to hold the retest would bring attention back to the lower trendline as the next area of interest.
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Keep an eye on how the next 2-Day candles behave around the triangle. Watching whether the retest holds and whether volume picks up will reveal much about the odds ahead.
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