The SHIB price prediction was strongly bullish in the near-term but analysis of futures market data showed traders lacked conviction so far.
managed to climb past a short-term range and has gained 15% since the low it posted on Friday the 12th of July.
The week’s trend sometimes gets established on Mondays. What is the SHIB price prediction, and should traders anticipate a strong bullish run soon?highlighted the short-term bullish metrics of SHIB and how they generated a buy signal. On the 6-hour chart, a session close above the range highs at $0.000017 has occurred.
The Awesome Oscillator also noted a bullish crossover and was rising higher to reflect the growing upward momentum. The CMF has been above +0.04 over the past week, a sign that buying pressure was consistent. This concerted effort has begun to pay dividends. To the north, the $0.00002-$0.000021 supply zone was the immediate bullish target.The technical analysis showcased a bullish SHIB price prediction, but data from the Futures market showed participants were wary of the momentum.Overall, the wider market disbelief might be turned into FOMO if Shiba Inu continues to climb.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis.
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