After enduring a 41% year-to-date decline amid widespread market weakness, Shiba Inu (SHIB) may finally be setting the stage for a rebound. A classic Bearish Gartley harmonic pattern has formed on the daily chart, suggesting a potential upside move toward $0,00001592 in the near term.

Harmonic Structure Signals Trend Reversal Opportunity

SHIB’s latest price action appears to be unfolding along the CD leg of the Gartley pattern. Following a sharp sell-off that bottomed at $0,00001031 on April 7, the memecoin has rebounded to around $0,00001249. This recovery leg often leads to a final bullish push toward the D point of the pattern.

If the pattern holds, a move toward the $0,00001592 level would represent a 27% gain from current prices. This zone is where traders may begin to anticipate a reversal or consolidation, in line with harmonic trading principles.

Cautious Optimism as Rebound Takes Shape

The emergence of this technical setup suggests SHIB may still have room to run before facing major resistance. However, the recent broader market sell-off–including Ethereum’s worst Q1 since 2018–reminds investors that macro sentiment still weighs heavily on altcoin performance.

Traders targeting the $0,00001592 level should monitor momentum closely, as price action near that zone could mark a turning point. Until then, SHIB appears to be in a recovery phase, backed by pattern-driven technicals and a favorable setup for a short-term rally.

See also: Solana Jumps 16% as Bulls Target $150 on Strong Technical Setup.