Spooky Fractal: Shiba Inu Could Fall To These Levels!

Spooky Fractal: Shiba Inu Could Fall To These Levels!


According to crypto analyst Tomy M, who noted that the price of the popular Shiba Inu coin (SHIB) fell off the cliff, the Shiba Inu price could form a major bull trap in the coming weeks. The analyst says traders and investors can benefit if they are aware of this possible macro scenario. We have prepared Tomy M’s analysis for our readers.

“Shiba Inu price has good news and bad news”

Shiba Inu (SHIB) Price, cryptocoin.com It is heading for all-time lows with $0.00000510 occurring in September 2021, which you know about in the news. Given that the price is only 50% of the level, calculating a scenario of how the liquidity hunt might take place can save long-term investors the risk of financial ruin. SHIB price has fractal waves that shrink for short periods on the daily and weekly chart before sending the popular cryptocurrency even on a straight-line rally.

SHIB price action, per the Fractal Wave projection, is a 50-70% pullback higher towards $0.00001600. It’s good news. This is also mixed with general market sentiment, where a countertrend rally is expected from this week’s devastating selloff. The bad news is that the next corrective rally could be a bridge between the last leg of the emerging zigzag C wave to break through the bottom. The price targets for the dog-themed meme coin’s recent drop are $0.00000570, $0.00000350, and $0.00000185.

shiba inus
Shiba Inu (SHIB) Price Chart / Source: TradingView

Yet, there is always room for alternate accounts and sudden changes in price action. The best override for a bearish scenario would be a breach above $0.00002225. If this happens, the zigzag stroke is considered complete. The bulls can reconcile the trend and target $0.00003800, resulting in a 275% increase from the current even coin price.

shiba inus
Shiba Inu (SHIB) Price Chart / Source: TradingView

As of this writing, SHIB is trading at $0.00001198, down 7.27% in the past 24 hours and around 40% in the past week.

Contact us to be instantly informed of last minute developments. Twitterin, Facebookin and instagramFollow and Telegram and Youtube join our channel!

Warning: Articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.

Warning: Quoting news content from Kriptokoin.com and quoting by giving a link is subject to permission from Kriptokoin.com. No content from the site may be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.


Source link

Leave a Comment

Your email address will not be published.