Popular crypto analyst Ali has identified a bullish signal for Shiba Inu’s price based on the TD Sequential indicator. With SHIB up 7% this week to over $0.000009, Ali notes that the TD Sequential is “flashing a buy signal, hinting that $SHIB could be gearing up for an upswing.”
Specifically, the TD Sequential analyzes price action and when its count hits 13, it often signals an impending trend reversal. As Ali explains, “Currently, it’s flashing a buy signal, hinting that $SHIB could climb to $0.000010 or potentially even reach $0.000011!”
This lines up with recent analysis from Coinpedia on TradingView. They have identified a falling wedge breakout in SHIB’s price, typically a bullish signal as it signals a reversal of the prior downtrend. SHIB’s falling wedge emerged from a 19% decline, setting the stage for a potential rebound.
Coinpedia also notes increasing trading volume aligning with SHIB’s breakout, critical for follow through momentum. Additionally, MACD and other technical indicators are reflecting building bullish momentum.
However, SHIB does face resistance at the 50-day moving average around $0.000010. As Coinpedia outlines, “If SHIB sustains its breakout and crosses the $0.000010 mark, it could witness a substantial rise.” But failure to maintain upside momentum could see SHIB slide back towards $0.000008360.
Still, the overall crypto market recovery seems to be lending strength to Shiba Inu’s bullish endeavor. As such, both Ali and Coinpedia’s analysis indicates that SHIB holders should pay attention to these buy signals. An upswing towards $0.000011 could be in the cards if SHIB can conclusively overcome short-term overhead resistance.
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