Cryptocurrency trader Ali has shared a potentially bullish development for Shiba Inu (SHIB). 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. This insight comes at a time when the meme coin sector is showing signs of reversal, making it a critical moment for traders and investors to pay attention. 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.

Technical Analysis Reveals Complex Market Structure

The TD Sequential presents buy signals on the daily charts of #Solana, #ShibaInu, and #Cardano, anticipating a price rebound for these #altcoins! pic.twitter.com/P8ZOYm9qTu— Ali (@ali_charts) June 25, 2024

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. 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.

Short-term trend: Strong Down

Medium-term trend: Strong Down

Long-term trend: Neutral

This trend profile indicates major downward pressure in the short to medium term, while the long-term trajectory remains uncertain.

Critical Support Level Breach and Potential Recovery

SHIB has recently broken below the $0.000021 support level and its 200-day moving average, signaling a downtrend. 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:

• MACD Histogram: Rising, indicating that bearish momentum may be waning
• RSI-14: Currently neither overbought nor oversold, providing room for movement in either direction

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Key Support and Resistance Levels to Watch

Traders and investors should keep an eye on the following key levels:

• Nearest Support Zone: $0.000015
• Nearest Resistance Zones: $0.000028, followed by $0.000035

The conflicting signals from various technical indicators and chart patterns highlight the complexity of SHIB’s current market position. While the oversold conditions at support and potential bullish momentum inflection suggest a possible rebound, the recent support breakout and downward trends in shorter timeframes urge caution.

Traders considering entering or adding to SHIB positions may want to wait for confirmation of a trend reversal, such as a decisive move above the 200-day moving average. Setting price alerts at key levels, particularly at $0.000028, can help traders stay informed of major price movements.

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The post Shiba Inu Shows Signs of Potential Rebound: This Signal Presents a Buy Opportunity for SHIB appeared first on CaptainAltcoin.

Bullish Breakout for SHIB Unveiled This Week

The price of the meme cryptocurrency Shiba Inu (SHIB) has recently experienced notable gains, reflecting the overall market trend as investors speculate on a potential resurgence akin to the 2021 rise. Although the coin has undergone short-term corrections, crypto analyst Ali Martinez anticipates a SHIB resurgence based on technical indicators.

In a post on X (formerly Twitter) on March 10, Martinez suggested that SHIB is positioned for a bullish breakout this week, citing price movements on the four-hour chart.

SHIB Price Analysis Chart

He observed that the four-hour chart had formed a symmetrical triangle, and a sustained close above the crucial $0.000038 resistance level could trigger a remarkable 40% surge, propelling SHIB towards $0.000052. However, Martinez warned investors to monitor the $0.000033 support level, as losing it could invalidate the bullish outlook.

Shiba Inu’s Activity Resurgence

Amidst the technical analysis, SHIB’s network has experienced a resurgence in activity, signaling a renewed interest and engagement within the community. For instance, according to data by IntoTheBlock blockchain analytics firm, Shiba Inu has recorded a staggering nearly 2,000% increase in active addresses from February’s average to a peak of 21,000 on March 5th. This surge in daily active addresses suggests that the Shiba Army, SHIB’s dedicated community, is back in action.

Considering Shiba Inu’s lack of significant use cases, the community is also banking on elements such as sustained network development to gain prominence. Some of the activities entail the burning of excess SHIB tokens to attain increased utility. In this line, the Shibburn X account revealed that 14,238,113,469 SHIB tokens were burned in the past seven days. This marks an impressive 6,478.69% increase in the weekly burn rate.

Shiba Inu to $0.00005? SHIB Price Pattern Signals Bullish Momentum

Prominent crypto analyst Ali Martinez has recently offered fresh insights into the price chart of Shiba Inu (SHIB), a meme-inspired cryptocurrency gaining traction in the digital asset market. Martinez observed the formation of a symmetrical triangle pattern on the four-hour chart, indicating a potential bullish breakout if the price manages to sustainably close above the $0.000038 resistance level.

The emergence of this triangular pattern, as outlined by Martinez, occurred on March 5 amid significant price fluctuations within the SHIB token market. Following this pattern formation, the volatility in SHIB's price experienced a decline, typical after periods of sharp price movements characterized by large candlesticks. However, such periods