Recent analysis of Shiba Inu’s (SHIB) performance in the cryptocurrency market shows a promising future for the token. Crypto analyst Ali Martinez has identified a rare buy signal for SHIB, suggesting a possible upward price trend.
Traders use the TD Sequential indicator to predict potential price patterns and reversals. When the count on this indicator reaches ‘9’ (TD9), it often indicates a possible market trend reversal. In the case of SHIB, the TD Sequential has flashed a buy signal on its weekly chart. This occurrence is significant due to its rarity and the potential for a bullish turn.
Historical data reveals that SHIB’s price rose by 118% and 71%, respectively, during the last two instances of such buy signals. Although past performance does not guarantee future results, it does provide an interesting context for SHIB’s current situation.
However, traders should use the TD Sequential indicator in conjunction with other tools and analysis methods, considering the volatile nature of the cryptocurrency market. Despite the risks, the consistent signal and the coinciding technical pattern suggest a possible bullish move for SHIB.