The price of the popular cryptocurrency inspired by the Shiba Inu (Shib) meme may be on the verge of amazing price action in the coming weeks. In particular, as Bollinger groups indicate on a weekly SHIB price schedule, the price of the asset found support at an average level, despite the painful sale yesterday.
Bollinger Lands, a widely used technical analysis tool, consists of three lines: the upper strip, the middle strip based on a 20-day sliding medium and lower strip that sets two standard deviations from this average. This tool, developed by John Bolonger, is valued for his ability to track price trends and helps to interpret potential future movements.
The problem is that while the shiba inu token supports above this point, the optimistic slope prevails. In the context of Bolinger’s strips, this may mean the seller’s reaction test on the upper curve, which is currently stretched at 0.00003191 US dollars, which has grown by 50% of the current level.
If the price of Shiba Inu token loses this support, however, it falls up to $ 0.00001075, becomes the main scenario, and this risk of the same 50% moves for SHIB, but in this case down.
Thus, from the point of view of the future shiba inu token, there are actually two equal opportunities: an increase of 50% or a landfill from the same exponent.
Given the fact that the period from January to March is considered the most prosperous for the cryptocurrency market, as connected with the history of prices, and the fact that Shib holds strong above the most important price, we can say with confidence that the first scenario is more likely.
