news 
Shiba Inu (SHIB) on Verge of Bullish Comeback: Possible Scenarios
Despite the recent price drop for the Shiba Inu token, it appears that a potential bullish comeback may be in sight. According to various technical indicators and market analysis, it is possible that SHIB’s price action will take another dip before making a significant reversal.
Currently, the price of the Shiba Inu token could drop as low as $0.00002456, where the lower band currently resides. Despite the fact that this may mean another 4.4% drop for SHIB, if the token finds its local bottom here, it may still save the bullish bias, as this would be a higher low than what was seen earlier in December.
In light of this information, several possible scenarios have emerged:
Firstly, there is a possibility that SHIB’s price action will make another attempt at breaking through the upper band, which currently stands at $0.00003441. This move could potentially lead to significant gains for investors, possibly exceeding 25% in a short period of time.
Secondly, if SHIB fails to break through the upper band and instead finds its local bottom at around $0.00002456, it is possible that the token will continue to slide downwards until it reaches the lower band once more. In this scenario, there could be another major buying opportunity for investors, with potential gains of up to 15% in a short period.
Finally, if SHIB’s price action takes a different turn and begins to consolidate around its current levels, it may indicate that the market is preparing for a larger correction or reversal, potentially putting the token on a path towards a significant increase in value over the long term.
In conclusion, the Shiba Inu token seems to be on the cusp of a potential bullish comeback. While there are several possible scenarios unfolding before us, it’s essential to remain cautious and flexible as we navigate these developments.
About the author:
Source: u.today
