Shiba Inu Indicator That Previously Signaled a 118% Shiba Inu Could Rally Flashing Bullish Again, Says Crypto Analyst
The second-largest memecoin by market capitalization, according to cryptocurrency trader Ali Martinez, may rise depending on the results of one indicator.
Martinez informs his 31,600 social media followers on X that a possible long opportunity for Shiba Inu (SHIB) on the weekly chart is being indicated by the Tom Demark (TD) Sequential indicator.
Traders use the TD Sequential indicator, which is based on the closing prices of the 13 preceding bars or candles, to forecast possible trend reversals. Martinez claims that SHIB increased by “118% and 71% respectively” following the past two positive signals for Shiba Inus from the TD Sequential indicator.
It’s critical to pay close attention to SHIB at this crucial juncture because of the infrequency and precision of such signals.
The value of SHIB is $0.00000738 as of this writing.
According to the crypto expert, the next significant resistance levels for Bitcoin (BTC) are situated between 13% and 38% above the current price, based on the UTXO Realized Price Distribution (URPD) model. The quantity of coins in circulation that have changed hands within a specific price range is tracked by the UTXO.
“Betcoin created a substantial barrier of support between $25,000 and $30,000. The next two crucial BTC resistance levels, according to the UTXO Realized Price Distribution (URPD) model, are $38,440 and $47,360.
Disclaimer
Nothing on Crypto Stics should be interpreted as investment advice. When investing in Bitcoin, cryptocurrencies, or digital assets, investors should conduct their research. Note that you are responsible for any losses you may sustain and that you are at risk when making transfers and transactions. Neither Crypto Stics nor its advisors make any recommendations about the purchase or sale of cryptocurrencies or other digital assets. You should be aware that Crypto Stics engages in affiliate marketing.
