Shiba Inu Observes TD Sequential Buy Signal
According to analyst Ali, the SHIB weekly chart has recently observed a buy signal known as the TD Sequential. This tool is used in technical analysis to time reversals in asset prices. The TD Sequential has two phases: a 9 candle setup phase and a 13 candle countdown phase. The setup phase begins when the price flips and continues until the ninth candle, indicating a potential bottom or top. After the setup phase, the countdown phase starts and when it reaches the 13th candle, another probable top or bottom is reached. These setups are rare but significant.
Ali’s chart shows that Shiba Inu has completed a TD Sequential buy setup recently. In the past, such setups led to significant price surges of 118% and 71% for the memecoin.
SHIB Gains 11% in the Past Week
In addition to the TD Sequential buy signal, Shiba Inu has seen its own rally recently. The coin is currently trading around $0.00000761, with an increase of over 11% in the last seven days. However, Shiba Inu’s performance still lags behind other top cryptocurrencies like Bitcoin, Ethereum, and Dogecoin.
As a result, Shiba Inu currently ranks as the 19th largest asset in terms of market cap.
Hot Take: Shiba Inu’s Potential Rise
While it remains uncertain whether the recent TD Sequential buy setup will be successful for Shiba Inu, historical data suggests that the memecoin may experience a significant increase in price. The infrequent yet precise nature of these signals makes it a pivotal moment to closely monitor SHIB’s performance. With previous setups resulting in rallies of 118% and 71%, there is a possibility of a similar surge in the near future.
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