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SHIB Flashes Buy Signal According to the Same Indicator That Predicted DOGE’s Rebound
The cryptocurrency market has been marked by intense volatility in recent times, with numerous assets experiencing significant price fluctuations. Despite this, there is a glimmer of hope for some investors as one indicator that accurately predicted Dogecoin (DOGE) and Bitcoin’s (BTC) recent rebounds is now signaling a buy opportunity for Shiba Inu (SHIB).
A brief glance at SHIB’s chart reveals that the asset has been trading in a relatively tight range since March this year. However, things took a drastic turn when the market reacted to the latest US Federal Open Market Committee (FOMC) meeting and subsequent sell-off. SHIB plummeted by almost 44% over a period of less than two weeks, landing at around $0.0000185.
The recent downturn in price has led some investors to speculate whether this is the end of the road for SHIB’s growth prospects. Nevertheless, popular crypto analyst Ali Martinez has taken to Twitter to alert his followers that the TD Sequential indicator – a widely used tool for determining market exhaustion and identifying buy opportunities – has flashed a buy signal on the daily chart.
According to the latest analysis, the TD Sequential indicator is anticipating a potential rebound in SHIB’s price. In fact, it has even predicted a specific target of $0.000026 or $0.000029, which would represent a 25% and 55% increase from its current position respectively.
For those unfamiliar with this indicator, it has already demonstrated its predictive prowess by accurately forecasting DOGE’s rebound, as well as Bitcoin’s recent price action. Given that SHIB has been one of the more resilient assets in the cryptocurrency market during this downturn, could this be a buy signal worth paying attention to?
Source: cryptopotato.com
