Shiba Inu (SHIB) Shows Signs of Potential Rebound: This Signal Presents a Buy Opportunity

Cryptocurrency trader Ali has shared a potentially bullish development for Shiba Inu (SHIB). According to Ali, the TD Sequential indicator is presenting buy

Cryptocurrency trader Ali has observed a potentially bullish signal for Shiba Inu (SHIB) on steeper timeframes. According to Ali, the TD Sequential indicator is presenting buy signals on SHIB’s daily chart, suggesting that a price rebound may be on the horizon for this altcoin. Ali's tweet comes at a time when the memecoin sector is showing signs of reversal. The tweet by Ali highlights TD Sequential buy signals on daily charts for Solana (SOL), SHIB, and Cardano (ADA). These signals, combined with the recent price action, could indicate an upcoming bullish move for these altcoins, according to Ali. “Solana, ADA, and SHIB showing TD Sequential buy signals on the daily. Anticipating a price rebound for these altcoins.” While the TD Sequential indicator points towards a potential bullish move, a detailed technical analysis by altFINS provides a more nuanced view of SHIB’s current market position. According to the analysis, the near-term outlook for SHIB is currently neutral, with the token showing signs of being oversold at a support level. This emerging pattern suggests that there’s a high probability of a price bounce in the near term, particularly when the Relative Strength Index (RSI) hits 30 or less. The analysis also highlights a trend profile that indicates major downward pressure in the short to medium term, while the long-term trajectory remains uncertain. Critical Support Level Breach and Potential Recovery As highlighted by a recent analysis by Santiment, SHIB has recently broken below the $0.000021 support level and its 200-day moving average, signaling a downtrend. According to the analysis, traders are now waiting for the price to reclaim this critical level to indicate a resumption of the uptrend. If SHIB manages to regain its footing above the critical support level, altFINS suggests an upside potential to the resistance level of $0.000028, representing a potential gain of 33%. Despite the overall bearish trend, momentum indicators are showing signs of a potential turnaround. “SHIB has shown signs of strength in recent weeks despite breaking below the 200MA and support at 21 sat. If it manages to reclaim this critical level, we could see an upside move to the next resistance at 28 sat (33% up from today).”

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