Shiba Inu (SHIB), the popular meme-based cryptocurrency, is currently at a critical juncture. According to the Bollinger Bands indicator, the token has reached its median line. Failing to hold above this level could lead to a sharp drop of over 17%.
The lower band of the Bollinger Bands now sits at $0.00002326 per SHIB, while the token currently trades at $0.00002826.
Bollinger Bands Indicate Shiba Inu’s Volatility
The Bollinger Bands tool, widely used in technical analysis, is signalling heightened market volatility for Shiba Inu.
This indicator uses three key lines: a moving average, an upper, and a lower band. As price fluctuations increase, the bands expand, helping traders identify potential breakout or breakdown points. A significant downward movement could occur if SHIB falls below the median line.
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Shiba Inu’s Price Could Climb 18% if Median is Surpassed
Despite the bearish sentiment, a bullish scenario is still possible for Shiba Inu.
If SHIB breaks above the median line and maintains this position, the price could rise by 18.3%, potentially reaching $0.0000333 per SHIB. This critical level represents the token’s upside potential in the short term.
Weekend Likely to Determine SHIB’s Short-Term Fate
The upcoming weekend will be pivotal for Shiba Inu’s price trajectory.
Current market sentiment appears bearish, with the median line at $0.0000283 as a key resistance level. Traders closely watch SHIB’s movements to determine whether it will drop toward the lower Bollinger Band or rally to higher levels.
Shiba Inu’s Price Remains at Crossroads
Shiba Inu now faces two immediate possibilities: a 17% decline or an 18.3% gain.
The outcome will depend on whether the token can hold above or break below the median line. Market participants are awaiting the next significant move, which could set the tone for SHIB’s performance in the coming week.
