1000SHIB Forming a Falling Wedge Structure
1000SHIB is currently trading within a falling wedge pattern on the higher timeframe, defined by a series of lower highs and lower lows that are gradually converging. This structure reflects decreasing downside momentum, even though price remains under overall bearish pressure.
Price is now positioned close to the lower boundary of the falling wedge, an area that often acts as a short-term reaction zone. From here, the market may attempt to cover recent downside wicks or perform a brief liquidity sweep below support, which would still be consistent with the structure of the pattern.
As long as price continues to compress within the wedge, the focus remains on how it reacts around the lower trendline. A sustained defense of this area increases the probability of a mean reversion move toward the upper wedge resistance, while a clean breakdown and acceptance below the structure would invalidate the pattern and extend the broader downtrend.
At this stage, the market is still in a compression and decision-making phase, with confirmation only coming after a clear breakout from the wedge boundaries.
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