The Shiba Inu (SHIB) price continues to consolidate, showing little momentum to initiate another furious rally. With the Bitcoin price trading below the key resistance zone at $28,600, an altcoin season has so far failed to materialize – and with it an important catalyst for previous SHIB rallies.<\/p>\n
However, SHIB has quietly formed a bullish chart pattern that could point to a price breakout before the end of April.\u00a0After the sharp pullback from $0.00001591 in early February, SHIB reached a local low at $0.00000967 on March 10.<\/p>\n
However, since then SHIB has been writing higher lows and has formed an ascending triangle pattern on the 1-day chart. As is characteristic of an ascending triangle formation, Shiba Inu price is showing a flat resistance level at the upper end. This is at $0.00001151 for SHIB and could not be broken in seven attempts so far.<\/p>\n
The lower side is sloping upward as price reaches higher lows. Traditionally, the pattern can signal weakening resistance and an impending breakout to the upside. These higher lows indicate that bulls are gaining the upper hand in the market.<\/p>\n In other words, this could mean that Shiba Inu may continue the uptrend initiated in early January after a two-month consolidation if the horizontal resistance line at $0.0000151 is cleared. For this to happen, however, buyers will need to build more pressure against sellers to continue writing higher lows and ultimately achieve the breakout.<\/p>\n![\"Shiba](\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/04\/SHIBUSD_2023-04-10_13-25-37.png?resize=3625%2C1672\")