Analysis of the Strong Upward Trend of SHIB
1. Price Movement and Reversal Signals: The current price of SHIB is 0.00001386 USDT, with a recent decrease of 5.97%. However, the most recent candles on the chart show a slight increase, indicating the possibility of a reversal from a downward trend to an upward trend. This could be the starting point of a strong wave.
2. Technical Indicators Supporting the Upward Trend:
• RSI(6): Reached 71.07, indicating that SHIB is in the overbought area. This is often a sign of strong bullish momentum, especially if the price continues to maintain this momentum.
• MACD: DIF (0.00000038) is above DEA (0.00000012), creating a bullish crossover, confirming that an upward trend is forming.
• Bollinger Bands: The current price is near the middle band (0.00001254) but very close to the upper band (0.00001443). If the price surpasses the upper band, this will be a clear breakout signal, opening up strong upward potential.
• Trading Volume: There has been a spike in volume recently, accompanied by a slight price increase. This is a sign that buying pressure is increasing, an important factor in upward waves.
3. Positive News as a Catalyst: Information about Shiba Inu partnering with the UAE Ministry of Energy to implement blockchain technology is a significant boost. This news may attract investor attention, driving up demand for SHIB and creating momentum for a price breakout.
4. Conclusion: Although SHIB has experienced a downward trend recently, the current technical indicators and positive news suggest that this token is entering a potential strong upward phase. If you recognize this wave pattern, now is the time to act!