The TD Sequential indicator has signaled a buy for Shiba Inu after consecutive days of price drops, suggesting potential short-term price relief. For nearly two weeks, the crypto market bears have significantly impacted Shiba Inu.
Currently, SHIB trades at $0.00002042, reflecting a 12% weekly loss and a 16% drop from its value a month ago. The bearish pressure forced Shiba Inu to revisit the $0.000019 price channel, a threshold last seen during the severe price correction on April 13 due to escalated global political crises.
Slight Recovery And Buy Signal
Three days ago, Shiba Inu touched a low of $0.00001965 and has since posted a modest 3.92% gain, reaching its current price of $0.00002042. Now, a crucial technical indicator suggests it might be an optimal time to buy SHIB.
In a post on X, Ali Martinez posted that TD Sequential indicator has shown buy signal on the SHIB chart. At the time of the update, SHIB was trading at $0.00002077, suggesting the anticipated relief rally is yet to occur. Therefore, today’s investors might still have a good chance to profit from the expected rally.
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The TD Sequential indicator has consistently proven reliable for Shiba Inu, with its predictions frequently turning out accurate in recent months. Martinez has highlighted numerous successful predictions in various updates.
Price Target And Analyst Predictions
However, Martinez did not specify a price target for the latest buy signal. Seven weeks ago, Martinez mentioned that Shiba Inu was forming a bull flag on the 24-hour chart. He disclosed he would place a buy order for SHIB at $0.00001834, while expecting a bullish breakout that could send SHIB to $0.00007232. At that time, Shiba Inu was trading in the $0.000021 range, indicating the recent dip to $0.00001965 was anticipated.
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Additionally, a recent report from The Crypto Basic supports the Shiba Inu rebound. The report reveals a decreasing number of SHIB tokens available for sale on centralized exchanges, accompanied by continuous accumulation by whales. This trend further suggests a potential price increase for Shiba Inu.
With the TD Sequential indicator flashing a buy signal and decreasing SHIB availability on exchanges, Shiba Inu investors might find this an opportune moment to buy.
