SHIB was consolidating within a symmetrical triangle pattern, suggesting a period of indecision in the market. The chart indicated...
Shiba Inu’s NVT Ratio dropped 2.3%, reflecting increased network activity.has drawn significant market interest as it formed a symmetrical triangle on the 4-hour chart.
The chart indicated a potential breakout, with a projected target price of $0.00003255, should the upward movement occur. This projection implies a possible 32% price increase from the current levels. Additionally, the True Strength Index displayed bearish values at -3.5790 and -7.9681, suggesting sellers currently maintain control but with weakening pressure.SHIB at a key level between highs and lows
Historically, the MVRV ratio reached an all-time high of 5.15 in October 2021, signaling highly overvalued conditions and subsequent corrections.By contrast, the all-time low of 0.3233 in June 2023 coincided with undervalued conditions, presenting potential buying opportunities.
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