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Shiba Inu eyes 50% rally as SHIB price enters ‘cup-and-handle’ breakout mode Shiba Inu eyes 50% rally as SHIB price enters ‘cup-and-handle’ breakout mode
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Shiba Inu eyes 50% rally as SHIB price enters ‘cup-and-handle’ breakout mode

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Shiba Inu (SHIB) broke out of its prevailing “cup-and-handle” pattern on Aug. 14, raising its prospects of securing additional gains in the coming weeks. Shiba Inu could soar 50% A cup-and-handle appears when the price falls and rises in a U-shaped trajectory in the first stage, followed by a swift move sideways or downward in the second. Notably, the price trend develops under a common resistance level. Typically, cup-and-handle patterns resolve after the price breaks above the resistance level; SHIB did the same on Aug. 14 after rising 27% to $0.000016, as shown below. SHIB/USD daily price chart. Source: TradingView Per the rule of technical analysis, a cup-and-handle breakout target is determined by measuring the distance between the pattern’s lowest point and resistan...