YouTube analyst Oscar Ramos has addressed the current market situation for Shiba Inu. He expressed respect for investors who bought SHIB during the period of intense fear. Ramos emphasizes the difficulty of going against common reason when prices are collapsing, noting that it’s human nature to react negatively and assign blame during market downturns.
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Shiba Inu Technical Analysis and Price Predictions
Ramos utilizes technical indicators, including the Ichimoku Cloud and Bollinger Bands, to analyze SHIB’s price action:
- On the 15-minute chart, SHIB has emerged from a negative trend cloud.
- A potential change in trend was observed around 10 PM on the analysis day.
- The analyst predicts a possible rally back to the $0.000019 level.
Ramos suggests that for SHIB to make a strong case for sustained recovery, it needs to return to the mid-20s (likely referring to $0.000020 – $0.000025 range). This would bring the price back to a previous consolidation level that has been significant in recent months.
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Show more +Analyst’s Investment Approach
Ramos discloses that he has maintained his 1 billion SHIB position and has added another $480 worth of SHIB to a separate portfolio. He views this as an opportunity to accumulate market fear, a strategy he has been advocating to his audience.
The analyst highlights SHIB’s extensive ecosystem and utility as key factors differentiating it from other meme coins. He suggests that these fundamentals make SHIB a good candidate for a long-term hold strategy.
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Ramos recommends the use of the LOEL indicator for active investors, suggesting it can help with timing buys and sells effectively.
While acknowledging the current market challenges, Ramos maintains an optimistic outlook for SHIB. He suggests that the current price levels may represent a buying opportunity, especially for those who can withstand short-term volatility.
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