The TD Sequential indicator has signaled a potential buying opportunity for Shiba Inu following a series of price drops, hinting at a short-term price recovery.
Shiba Inu has been under significant pressure from the crypto market bears for almost two weeks. Currently trading at $0.00002042, SHIB has experienced a 12% decline in weekly performance and a more substantial 16% drop from its value a month ago.
The ongoing bearish trend has pushed Shiba Inu back to the $0.000019 price range, last seen during the major price correction on April 13 due to global political tensions.
Although Shiba Inu briefly touched a low of $0.00001965 recently, it has only managed to bounce back by 3.92%, reaching $0.00002042. Now, a key technical indicator is suggesting that this could be an opportune moment to buy SHIB.
A recent update by market analyst Ali Martinez on X revealed that the TD Sequential indicator has given a buy signal on the SHIB daily chart, with SHIB trading at $0.00002077 at the time of the announcement. This indicates that the expected relief rally may still be on the horizon, presenting a potential opportunity for investors.
Martinez has highlighted the reliability of the TD Sequential indicator in predicting Shiba Inu’s movements, with several successful predictions in recent months. While no specific price target was mentioned for the current buy signal, previous analysis by Martinez suggested a potential bullish breakout to $0.00007232.
Furthermore, another report from The Crypto Basic supports the idea of a Shiba Inu rebound, noting a decrease in SHIB tokens available for sale on centralized exchanges and an increase in accumulation by whales.
Please note that this content is for informational purposes only and should not be construed as financial advice. Readers are advised to conduct their own research before making any investment decisions. The views expressed in this article are the author’s own and do not necessarily reflect those of The Crypto Basic.