SHIB TECHNICAL ANALYSIS WITH BOLLINGER BAND 📈
Here's why Shib could erase one more zero and break its previous ATH within a couple of weeks. 💥
In this post I've attached two charts (on a daily time frame), one chart shows the movement during Oct-Nov'2021 and the other one is the present day chart. With the help of Bollinger Band and simple Price Action I've tried to break down the key factors that will lead shib to new heights in coming days.
Now the pattern formed by BB in the present day chart resembles the one formed during the 2021 chart. Whenever such formation occurs, a huge rise comes right after. Whenever the band is squeezed a sideways movement sustains for a good amount of time. Depending upon the mkt structure (as we are in bull mkt) the band opens up later and gradually the moves tend to take place.
History repeats itself and this phenomenon is not new in crypto. The present move is following the exact same pattern. If we look at the 2021chart, the breakout came after a long sideways movement in October 1st half and made a high of $0.000088. At present shib is trading at the exact same price range.
Now coming to the S/R levels, $0.0003 proved to be a good support but not enough to restrict the fall and the final support is seen at $0.000025. The mkt rebound with Solana leading the charge and all other tokens reacted to it simultaneously. From current levels shib will move between $.000025-0.000035 forming a sideways trend and then we might see the final breakout.
On the higher side, $0.000035 & $0.00004 will be key resistance levels with $0.000035 a major hurdle. $0.00004 won't bother much and after that the next target will be $0.00005 and $0.00006 respectively.
This is my viewpoint after looking at all the metrics. Please #DYOR🟢. before taking any trade.
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