fxs_header_sponsor_anchor

SHIB Price Prediction: Shiba Inu remains stale as volatility dries up

  • SHIB price is stuck trading around the $0.00000700 range for the past day.
  • The Bollinger Bands indicator shows Shiba Inu volatility has dried up.
  • A large move is generally observed after breaking from the no-trade zone, ranging from $0.00000974 to $0.00000693.

Shiba Inu price is trading in a tight range under a crucial supply zone. A breakout from the volatility-nil phase would indicate massive moves for SHIB price.

SHIB price awaits a catalyst

SHIB price is currently experiencing a lack of volatility, keeping it around the $0.00000700 level for the past day. In fact, Shiba Inu has not traded above $0.0000100 for the past five days. Such a move indicates a lack of volatility and is affirmed by the Bollinger Bands indicator tightly squeezing the SHIB price action.

Shiba Inu is trading in a no-trade zone that ranges from $0.00000974 to $0.00000693. A breakout from either of the boundaries suggests an increase in volatility and that a violent move might follow.

Assuming a decisive 6-hour candlestick close above $0.00000974, then SHIB price could then rally 20% to tag the upper boundary of the supply zone at $0.0000117.

If the buying pressure persists, Shiba Inu will likely rise by another 20% to test the resistance level at $0.0000144.

SHIB/USDT 6-hour chart

On the other hand, if the dog-themed cryptocurrency produces a convincing close below $0.00000693, it will signal the start of a down move. However, a confirmation of this will arrive after SHIB price has sliced through the support level at $0.00000654.

In that case, Shiba Inu price might drop 36% to tag the support at $0.00000420.

Investors need to note that either scenario might occur, and an immediate confirmation for the same will arrive after SHIB price tears through the Bollinger Bands. However, until the dog-coin fails to do so, it does not have any inherent bias.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.