Shiba Inu's price is trading in a tight range under a crucial support supply zone. A breakout from the volatility-nil phase would indicate massive jumps for SHIB price.
Shiba Inu's price is currently experiencing a lack of volatility, keeping it around the price of $0.00000700 level for the past day. In fact, Shiba Inu's price hasn’t traded above $0.0000100 for the past five days. Such a move indicates a lack of volatility and is affirmed by the Bollinger Bands indicator, tightly squeezing the Shiba Inu price action.
Shiba Inu's price is trading in a no-trade zone that ranges from a price of $0.00000974 to $0.00000693. A breakout from either of the boundaries suggests an increase in volatility and that a violent move might follow.
Assuming a decisive 6-hour candlestick chart close above $0.00000974, then SHIB could then rally 20% to tag the upper boundary of the supply zone at a price of $0.0000117.
If the buying pressure persists, Shiba Inu will likely rise by another 20% to test the resistance support level at $0.0000144.
On the other hand, if the dog-themed cryptocurrency produces a convincing close below the price of $0.00000693, it will signal the start of a down move. However, a confirmation of this will arrive after the SHIB price has sliced through the support level at a price of $0.00000654.
In that case, Shiba Inu's price might drop 36% to tag the support level at $0.00000420.
Investors need to note that either scenario might occur, and an immediate confirmation for the same will arrive after Shiba Inu price tears through the Bollinger Bands. However, until the dog-coin fails to do so, it does not have any inherent bias.
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