Shiba Inu has demonstrated remarkable stability despite recent volatility across the cryptocurrency market. While many digital assets have faced substantial losses, SHIB has managed to maintain a key support level at $0.00002, even as total liquidations in the market approached $1.5 billion. This resilience suggests that the current price could represent a strong support zone, with a higher likelihood of a price rebound. SHIB Technical Analysis: Bollinger Bands Indicate Stability The Bollinger Bands indicator proves that the asset may have reached a bottom. Bollinger Bands, created by John Bollinger, consist of three lines: a 20-day moving average (the median), an upper, and a lower band. These bands are widely used to assess whether an asset is oversold or overbought by showing the price range within which the asset typically moves. On the daily chart, Shiba Inu recently touched the lower Bollinger Band, a level often interpreted as a signal of overselling. This development strengthens the case for a potential reversal or recovery in the near term. The current positioning of SHIB within the bands suggests that bullish momentum could be building, with limited downside risk. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Potential Scenarios for SHIB Price Movement If the $0.00002 level holds as a bottom, Shiba Inu (SHIB) next price targets will align with the upper Bollinger Bands. The first significant resistance lies at $0.0000222, corresponding to the median band. Breaking above this level could open the path for further gains toward $0.000025, the upper band, and a key psychological resistance. These targets indicate a potential price increase ranging from 8% to 20%, depending on the asset’s ability to maintain its current support level and attract bullish sentiment. The fact that SHIB has retained its support at $0.00002 despite market-wide liquidations underscores the strong interest from buyers at this level. This suggests a potential accumulation phase, where investors position themselves for an upward movement. While the indicators are signaling positive momentum, traders should remain cautious. Technical signals, including the Bollinger Bands, are not guaranteed and should be used with other factors such as trading volume and market sentiment. Nonetheless, the alignment of support at $0.00002 and bullish signals from the Bollinger Bands create a favorable outlook for the token’s price in the near term. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post This Top Indicator Signals that SHIB May Have Bottomed appeared first on Times Tabloid .
