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Tag: Bollinger
Shiba Inu (SHIB) Eyes Major 50% Move as Bollinger Bands Signal
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The price of popular meme-inspired cryptocurrency Shiba Inu (SHIB) may be on the verge of stunning price action in the coming weeks. In particular, as the Bollinger Bands indicate on the weekly price chart of SHIB, the price of the asset found support at a median level, despite a painful sell-off yesterday.
Bollinger Bands, a widely used technical analysis tool, consists of three lines: an upper band, a middle band based on a 20-day moving average and a lower band set two standard deviations away from this average. This tool, developed by John Bollinger, is valued for its ability to track price trends and assist in interpreting potential future movements.
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The issue is that while the Shiba Inu token maintains above this point, a bullish bias prevails. In the context of the Bollinger Bands, it may mean a test of seller reaction at the upper curve, which currently stretches at $0.00003191, which is up 50% from the current level.
Source: TradingView If the price of the Shiba Inu token loses this support, though, a drop down to $0.00001075 becomes the main scenario, and this risk the same 50% move for SHIB, but in this case downward.
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Thus, in terms of the future of the Shiba Inu token, there are really two equal possibilities, with either a rise worth 50% or a dump by the same margin.
Considering the fact that the period from January to March is considered the most prosperous for the cryptocurrency market, as drawn from price history, and the fact that SHIB holds strong above the crucial price point, it is safe to say the former scenario right now is more probable.
Shiba Inu (SHIB) Eyes Major 50% Move as Bollinger Bands SignalShiba Inu (SHIB), the popular meme-based cryptocurrency, is showing signs of a potential major move as its Bollinger Bands signal a possible 50% increase in price.
The Bollinger Bands, a technical analysis tool that measures volatility and potential price movement, have been tightening around SHIB’s price chart, indicating a period of consolidation and potential breakout.
With the bands squeezing closer together, traders are anticipating a significant move in either direction. However, with SHIB currently trading at a crucial support level, many analysts believe that the cryptocurrency is primed for a major uptrend.
If SHIB breaks out of its current consolidation phase and surpasses key resistance levels, a 50% move to the upside could be on the horizon. This would mean a substantial increase in SHIB’s price and potentially lead to renewed interest from investors.
As always, it is important to exercise caution and conduct thorough research before making any investment decisions. Keep an eye on SHIB’s price action and volume to gauge the likelihood of a major move in the near future.
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Shiba Inu, SHIB, cryptocurrency, Bollinger Bands, technical analysis, price prediction, trading signals, market analysis, crypto news, cryptocurrency update, SHIB price movement
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XRP Bollinger Bands Squeeze Again, Expert Says XRP Most Promising Setups Could Take It to $11
XRP continues to struggle around the $2 price as 2024 winds down, but analysts believe the token is one of the most promising crypto assets for 2025.
Last night, XRP dipped below the $2 mark for the third time in December, testing lows of $1.995 on Binance before bouncing back.
Although XRP’s ongoing price action has been discouraging, analysts like Ali Martinez believe its chart patterns are among the most bullish in crypto. He has cited numerous technical formations to support this view.
XRP Bollinger Bands Squeezing
In a recent commentary, Martinez pointed out that the Bollinger Bands are tightening on XRP’s daily chart. He emphasized that this formation signals an imminent significant price movement.
Bollinger Bands Squeezing on XRP 1D chart. Notably, other market analysts have also observed this BB squeeze on XRP’s chart across different timeframes. They agree the setup is promising and could propel XRP to a new all-time high.
XRP Forming Compelling Pattern for $11 Rally
Meanwhile, in a follow-up update, Martinez presented another chart that paints a compelling picture of a potential surge to $11.
The chart shows that after a powerful rally in November that catapulted XRP to new heights, the price entered a period of consolidation. Specifically, it depicted XRP trading within a tightening range, where buyers and sellers engage in a tug-of-war, forming a bullish pennant.
XRP bull pennant This consolidation phase, marked by diminishing volatility, has historically preceded explosive moves. When observing XRP on the 4-hour chart, this setup repeated at least three times between November and the first week of December. Each instance resulted in a significant breakout for XRP.
Martinez had pointed out this formation in a separate update two weeks ago, suggesting a short-term target of $4 upon a breakout.
Now, XRP is hovering around $2.04, locked within narrowing trendlines as the market awaits a decisive move. Martinez expects a 440% rally to $11 in XRP’s next leg up.
With the ongoing bearish performance, market commentators are urging XRP holders to remain patient.
Pundits like Bobby A assured investors that the asset has not broken out of a seven-year downtrend only to stop just short of reaching a new peak. He stressed that the ongoing pattern is temporary and consistent with historical moves.
Whales Positioning for XRP’s Next Move
Notably, while retail investors are increasingly frustrated with the continuous downturn in XRP, whales continue to load up on the asset, positioning for its next move. For instance, on December 25, XRP whale holdings increased by 60 million XRP.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
The XRP Bollinger Bands Squeeze is Happening Again, and Experts are Calling it the Most Promising Setup YetThe cryptocurrency market is abuzz with excitement as XRP’s Bollinger Bands are once again squeezing, indicating a potential breakout on the horizon. According to experts, this could be the most promising setup for XRP yet, with some predicting that it could reach as high as $11 in the near future.
Bollinger Bands are a technical analysis tool that measures price volatility and potential price movements. When the bands squeeze, it indicates that a significant price movement is imminent. This can be a bullish sign for traders, as it suggests that a breakout to the upside is likely.
Experts are pointing to a number of factors that could contribute to XRP’s potential surge. These include the recent partnership announcements, increased adoption of Ripple’s technology by financial institutions, and overall positive sentiment surrounding the cryptocurrency market.
With XRP currently trading at around $1.50, a move to $11 would represent a significant increase in value. While it’s important to remember that cryptocurrency markets are highly volatile and unpredictable, many traders are keeping a close eye on XRP’s price action in the coming days and weeks.
As always, it’s important to do your own research and consult with a financial advisor before making any investment decisions. But if the experts are right, XRP could be on the verge of a major breakout that could take it to new heights.
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