📈Bullish on Shiba: Potential for Strong Rally🚀🔥
🔍Today's analysis focuses on Shiba Coin (SHIB) in the daily timeframe, where it has recently experienced a remarkable 417% growth, showcasing its significant potential. SHIB is among the most popular meme coins in the market, boasting a large community of loyal holders.
📈Following such a powerful upward movement, a correction is entirely natural and essential for sustaining a healthy trend. A trend line from the weekly timeframe has been broken, indicating the extent of the 417% movement.
🛒Currently, the price is stabilizing, suggesting that considering spot buying within this range could be prudent. If the price begins to correct, waiting for confirmation candles within the range of 0.000015 to 0.000018 could be a strategic entry point.
💎Alternatively, a scenario where the price finds support upon reaching the SMA25 for its next move is plausible. If the market fails to initiate movement upon reaching the SMA, patience for Fibonacci levels may be necessary.
🚀For futures trading, it's advisable to sideline Shiba Coin and explore other options, considering its tendency for volatile movements and potential for easy liquidation.
🧠💼Just remember, jumping into trades too quickly before the main trigger can be risky. Always manage your money wisely and be aware of the risks involved.
📈Following such a powerful upward movement, a correction is entirely natural and essential for sustaining a healthy trend. A trend line from the weekly timeframe has been broken, indicating the extent of the 417% movement.
🛒Currently, the price is stabilizing, suggesting that considering spot buying within this range could be prudent. If the price begins to correct, waiting for confirmation candles within the range of 0.000015 to 0.000018 could be a strategic entry point.
💎Alternatively, a scenario where the price finds support upon reaching the SMA25 for its next move is plausible. If the market fails to initiate movement upon reaching the SMA, patience for Fibonacci levels may be necessary.
🚀For futures trading, it's advisable to sideline Shiba Coin and explore other options, considering its tendency for volatile movements and potential for easy liquidation.
🧠💼Just remember, jumping into trades too quickly before the main trigger can be risky. Always manage your money wisely and be aware of the risks involved.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.