Shiba Inu Completes Bullish Inverse H&S Pattern Amid BONK’s ETF Speculation
Meme token Shiba Inu (SHIB) has shown a bullish reversal, driven by ETF speculation impacting BONK's performance.
Key points regarding SHIB:
- SHIB rose 5.2% in 24 hours, from $0.00001136 to $0.00001195, establishing support at $0.00001162.
- The completion of an inverse head-and-shoulders pattern confirms bullish momentum.
- Technical indicators suggest sustained bullish activity above new support levels.
- Volume spiked significantly at 16:00 on July 2, reaching 1.68B.
- Notable volatility occurred with a price dip to $0.00001199 after peaking at $0.00001204.
- Sustained trading above $0.0000120 formed a new resistance zone.
Regarding BONK:
- BONK surged 23% in the past 24 hours, reaching $0.00001665, becoming the top performer among cryptocurrencies by market value.
- The rally featured aggressive buying with volume peaking near 3 trillion units between 23:00 and 01:00.
- BONK approached one million holders, influenced by Tuttle Capital’s proposed 2x Long BONK ETF progress.
- An inverse head-and-shoulders pattern is also visible on BONK's hourly chart.
