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Shiba Inu (SHIB) on Verge of 17% Crash, According to Bollinger Bands
The price of Shiba Inu (SHIB) is on the verge of a significant decline, with Bollinger Bands indicating a potential 17% drop in the short term. This comes as a surprise, considering the recent positive sentiment surrounding SHIB.
As per TradingView data, there are two possible options for the cryptocurrency’s future – either a catastrophic 17% fall or an impressive 18.3% rise. While it is impossible to predict with certainty which direction SHIB will take, the current median acting as a resistance level suggests that bears may be gaining the upper hand.
The coming weekend will play a crucial role in determining the course of action for SHIB’s price movement. If the cryptocurrency fails to break through this median and instead declines, it could lead to further bearish pressure, potentially culminating in the predicted 17% crash.
On the other hand, if SHIB manages to surge past this critical level, it may signal a new wave of bullish activity that could propel the price higher. However, with the market sentiment currently leaning bearish, the chances of the latter scenario are slim.
It is essential for investors and traders alike to remain vigilant and adapt their strategies accordingly in response to any changes in the market.
Source: u.today
