Shiba Inu Continues the Consolidation Phase
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Market Analysis: SHIB Buyers Await Volatility
Shiba Inu continues the consolidation phase as it struggles to make significant movements in the price. SHIB has been stuck in a consolidation phase for several days, with the Bollinger Band indicator indicating price accumulation.
Shiba Inu (SHIB) Significant Zones
Resistance Zones: $0.000001130, $0.000009600
Support Zones: $0.000008070, $0.000007700
In the previous week, the buyers showed their intentions by pushing the price up from the significant level of $0.00000770. However, since then, their momentum has stalled, and the price has remained in a state of consolidation. On the other hand, the sellers have failed to close the gap and exert influence over the market for weeks. Their lack of impact has contributed to the ongoing consolidation in Shiba Inu.
The current market conditions suggest that more crypto investors are needed to cause a significant increase in volatility as the new month unfolds. This presents an opportunity for crypto buyers to prepare for a potential breakout. The Bollinger Band indicator, which indicates price accumulation, suggests that an expansion is expected shortly. This is something that buyers should be prepared for.
Market Expectation
At the moment, the token price appears to be experiencing a lack of impulse from both traders. The market is in a state of equilibrium, with neither the buyers nor the sellers exerting significant influence. As a result, the price remains relatively stagnant. As more investors rush in, it will likely influence a breakout soon.
You can purchase Lucky Block here. Buy LBLOCK
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset, presented product, or event. We are not responsible for your investment results.
