Shiba

Greed

Convergence

Shiba Inu

Divergence

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/shiba-inu-shows-bullish-potential" data-wpel-link="internal">Shiba Inu Shows Bullish Potential</a><br></p>
<p style="text-align: justify">Shiba Inu (SHIB), a popular meme coin, has experienced a 12% drop over the past week, reducing its trading price to $0.00001795. However, market analysis indicates that this decline could be a precursor to a significant bullish rally. Technical indicators and <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">market conditions</a> suggest that SHIB may reclaim its previous high levels before March.</p> 
<h2 id="what-do-technical-indicators-reveal">What Do Technical Indicators Reveal?</h2> 
<p style="text-align: justify">A closer look at SHIB’s price charts reveals that the coin has been consolidating within a rising wedge formation since early March, a pattern often associated with potential upward breakouts. Despite encountering resistance twice, SHIB is currently testing its support level. A successful breakout from this wedge could trigger a bull rally, pushing SHIB back to its earlier heights.</p> 
<p style="text-align: justify">On-chain metrics also support the possibility of a bullish reversal. There has been a noticeable increase in buying pressure, as evidenced by a rise in exchange outflows over the past week. This suggests growing investor interest and potential inflows into SHIB.</p> 
<h2 id="what-are-whales-doing">What Are Whales Doing?</h2> 
<p style="text-align: justify">Large investors, or “whales,” have shown increased activity, with the SHIB supply held by top addresses rising in recent days. This accumulation indicates that these significant holders anticipate a price increase. Additionally, SHIB’s Fear and Greed Index recently entered the “fear” category at 36%, a level often seen before general price rises.</p> 
<h2 id="key-insights-for-investors">Key Insights for Investors</h2> 
<p style="text-align: justify">Here are some valuable inferences for investors:</p> 
<ul> 
 <li>SHIB’s rising wedge formation suggests a potential upward breakout.</li> 
 <li>Increased exchange outflows indicate growing buying pressure.</li> 
 <li>Whale accumulation signals expectations of a price rise.</li> 
 <li>SHIB’s Fear and Greed Index in the “fear” category can precede price increases.</li> 
 <li>RSI’s oversold status may indicate excessive selling pressure, hinting at recovery potential.</li> 
</ul> 
<p style="text-align: justify">Despite these positive signals, the Moving Average Convergence Divergence (MACD) indicator still shows a bearish advantage, indicating that the market remains cautious. Investors should consider these mixed signals and stay informed about ongoing market trends and technical developments.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/shiba-inu-shows-bullish-potential" data-wpel-link="internal">Shiba Inu Shows Bullish Potential</a></h5>

Shiba Inu Shows Bullish Potential

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