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Shiba Inu (SHIB) on Verge of 17% Crash, According to Bollinger Bands
The cryptocurrency market is always full of surprises, and the recent trend in Shiba Inu’s price activity has caught many investors off guard. Despite some early morning gains, SHIB’s price action appears to be heading towards a critical juncture that could decide its short-term fate.
According to various technical indicators, including Bollinger Bands, it seems that SHIB is on the cusp of a 17% crash in the short term. The median has been acting as a stubborn resistance level for some time now, and if it breaks below this threshold, the bears might gain the upper hand.
The past day has seen SHIB’s price activity become increasingly volatile, with early gains failing to sustain themselves throughout the day. This sudden reversal could be indicative of a bearish market shift in the making. If the median is broken, it may signal that the cryptocurrency will face further selling pressure, potentially leading to a significant downturn.
As always, we must consider multiple sources and indicators before arriving at any definitive conclusions. However, based on this data alone, there’s a growing risk that SHIB might be primed for a major correction in the coming days.
The market sentiment appears to lean bearish at present, with many investors holding their breath as they await the start of the new week.
Source: u.today
