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Shiba Inu (SHIB) Eyes Major 50% Move as Bollinger Bands Signal
The crypto market is known for its unpredictability, and it’s essential to be vigilant when analyzing price trends. Our analyst Gamza Khanzadaev took a closer look at the Shiba Inu (SHIB) chart and found some compelling reasons that suggest the asset could surge by 50% in the near future.
To make this prediction, Gamza turned his attention to Bollinger Bands, an indicator used for identifying trends and potential breakouts. These bands consist of three lines: a moving average (Simple Moving Average or EMA), a standard deviation band above it, and another band below it. In essence, the upper band represents an overbought level, while the lower band indicates overselling.
Analyzing the SHIB chart with Bollinger Bands reveals that we have been seeing a sharp upward movement since early December 2024, with the price closing above the center line of the indicator. This is quite important because it indicates a strong trend in favor of the bulls.
In addition to this bullish sign, notice how the price action has consistently touched the upper band and then rebounded, forming higher highs. This suggests that there’s still more room for growth before the market reaches exhaustion.
Furthermore, considering the recent performance, we can see an upward momentum building up, which could potentially propel SHIB towards its next resistance level. Should this occur, it would likely trigger a massive move above 0.0000185 Sats, representing approximately a 50% increase from the current price.
Here’s what you should be aware of:
1: The prediction is based on technical analysis using Bollinger Bands.
2: The crypto market is always subject to fundamental and unforeseen events that may affect prices.
3: It’s crucial not to put too much faith in any given asset until further confirmation.
Keep an eye on SHIB, as we could be witnessing the beginning of a significant price rise.
Gamza Khanzadaev
Source: u.today
