Date: Tue, July 15, 2025 | 06:06 PM GMT
The cryptocurrency market is deep in bullish territory, with Bitcoin (BTC) skyrocketing to a new all-time high and Ethereum (ETH) riding close behind with an 18% gain this week — now approaching the $3,100 mark. This strong uptrend is spilling over into the major memecoins, and Shiba Inu (SHIB) is starting to grab attention.
SHIB has jumped 15% over the past week, adding to its growing momentum. But it’s not just the price action that’s turning heads — a harmonic Cypher pattern on the daily chart may be signaling that SHIB still has plenty of room to run.
Harmonic Pattern Hints at Bullish Continuation
On the daily timeframe, SHIB is forming a Bearish Cypher harmonic pattern, a setup that often points to strong bullish moves during its CD leg — which is currently unfolding.
This pattern began at point X near $0.00002486, then fell to point A, rebounded to point B, and dropped again to point C around $0.00001009. Since hitting that low, SHIB has reversed course and is now trading around $0.00001373, knocking on the door of its 200-day moving average at $0.00001476 — a crucial resistance level.
According to harmonic principles, the CD leg could push SHIB into the Potential Reversal Zone (PRZ) between $0.00002180 and $0.00002486 — corresponding with the 0.786 and 1.0 Fibonacci extensions. If this pattern plays out, it could mean a gain of more than 80% from current levels.
What’s Next for SHIB?
To maintain this bullish momentum, SHIB will need to break and hold above the 200-day MA with increasing volume. That breakout could spark accelerated buying and lead to a full completion of the harmonic pattern, targeting the $0.00002486 region.
On the downside, it’s also important for SHIB to hold support around the 100-day MA at $0.00001293, which serves as a key level to prevent a breakdown of the structure.
Disclaimer: This article is for informational purposes only and reflects the writer’s personal views. It should not be considered financial advice. Always conduct your own research before investing in cryptocurrencies.