Bitcoin Looks to Reclaim Threshold as Altcoins Show Positive Signals
January was a weak month for cryptocurrencies, but the tide seems to be turning as Bitcoin (BTC) aims to regain its previous threshold after dropping below $40,000. Meanwhile, altcoins like Shiba Inu (SHIB) are displaying positive signals on TD sequential and moving averages.
With this in mind, Finbold has partnered with CoinCodex to utilize AI-driven machine-learning algorithms for analyzing SHIB’s expected price by the end of February.
The algorithms evaluate market conditions and relevant indicators to forecast the likelihood of SHIB experiencing a value increase by February 29. According to the projections, SHIB’s price is expected to decrease to $0.000008137, reflecting an -8.61% fall from its current level of $0.000008904.
Analysts Predictions
SHIB recently showed a reversal signal on TD Sequential, indicating potential price reversals and trend exhaustion. Cryptocurrency expert Ali Martinez suggests that SHIB could climb to $0.010 or even reach $0.011.
“Keep an eye out, as SHIB could climb to $0.010 or potentially even reach $0.011!”
This implies that the individual token price could reach $0.000010 or $0.000011, respectively.
A post by crypto trader SHIB KNIGHT on January 29 suggests that the downward trend for Shiba Inu may be breaking, indicating a possible price increase.
SHIB Price Analysis
Currently, SHIB is trading at $0.000008904, showing a decrease of -1.47% in the last 24 hours and a loss of -17.72% in the previous month. Technical indicators for SHIB are dominantly bearish, with moving averages and oscillators pointing to a ‘sell’ rating of 13. However, oscillators suggest a ‘buy’ rating of 2.
Whether SHIB will break through its resistance zone and initiate a price surge or remain in the lows is yet to be seen.
Hot Take: Shiba Inu Holds Potential for Growth
The recent positive signals on TD Sequential and moving averages indicate that Shiba Inu (SHIB) may have the potential for growth. While analysts project a decrease in price by the end of February, there is still optimism for an upward movement. Cryptocurrency expert Ali Martinez suggests that SHIB could reach $0.010 or even $0.011, indicating a possible increase from its current level of $0.000008904.
Additionally, a post by crypto trader SHIB KNIGHT suggests that the downward trend for Shiba Inu may be breaking, which further supports the potential for price increase. Although technical indicators currently lean towards a ‘sell’ rating, the oscillators provide a glimmer of hope with a ‘buy’ rating.
Ultimately, it remains to be seen whether SHIB will surpass its resistance zone and experience significant growth or continue to face challenges in the market.
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