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Shiba Inu (SHIB) on Verge of 17% Crash, According to Bollinger Bands
The cryptocurrency market is always unpredictable, and the recent performance of SHIB has left many investors wondering what’s next for the token. The latest data suggests that SHIB may be on the verge of a significant price crash, with a potential 17% drop looming.
In order to analyze this situation further, we need to look at the Bollinger Bands indicator, which helps us identify potential price movements based on volatility and momentum. The median line of the bands is currently acting as resistance, and if SHIB fails to break above it, a significant correction may be imminent.
The market sentiment appears to lean bearish in the short term, with the median acting as a pivotal resistance level. This means that bears have gained an upper hand, putting pressure on SHIB’s price action.
Source: u.today
