Shiba Inu (SHIB) Berkelip Peluang Membeli, Tetapi Pembalikan Harga Tidak Segera

Shiba Inu (SHIB), syiling meme kedua paling berharga, tidak dikecualikan daripada pertumpahan darah pasaran yang berlaku pada 5 Ogos.

Shiba Inu (SHIB) encountered resistance at $0.000014 after a brief rally. A technical analysis suggests that the token may consolidate within a specific range or attempt retesting a lower support level due to sustained bear pressure.

Key Points

Shiba Inu encountered resistance at $0.000014 following a brief rally.

Technical analysis indicates consolidation or retesting of lower support due to sustained bear pressure.

Shiba Inu’s price DAA divergence and MVRV ratio suggest a buying opportunity.

Shiba Inu (SHIB) encountered resistance at $0.000014 after a brief rally from hitting a five-month low. A technical analysis suggests that the token may consolidate within a specific range or attempt retesting a lower support level due to sustained bear pressure.

Shiba Inu Encounters Resistance, May Consolidate

On the daily chart, SHIB has been trading within a descending channel since mid-July. The token bounced off the lower trendline on August 7, indicating a slight increase in buying pressure.

However, SHIB has yet to fully exit the bearish pattern, suggesting that a notable upswing could be off the cards.

Furthermore, the Bull-Bear Power (BBP) on the daily timeframe is negative, indicating that bears have more strength than bulls at the moment.

If this remains the case, the price of SHIB could consolidate between $0.000012 and $0.000014. If selling pressure intensifies, the token could attempt retesting the swing low at $0.000010.

However, a rise in buying pressure may invalidate this thesis. If this happens, SHIB’s price could jump to $0.000017.

On-Chain Metrics Suggest Buying Opportunity

On-chain data from Santiment showed a divergence between Shiba Inu’s price and Daily Active Addresses (DAA). The DAA in this metric measures the rate of user participation on a blockchain.

A rise in this metric increases the chance of price growth, while a decrease suggests otherwise.

When combined with the token’s value, the price DAA divergence offers insights into entry and exit signals. Typically, if the reading is negative, the price is growing faster than active addresses, which usually indicates a sell signal.

However, if the reading is positive, it means user participation is outpacing price growth, serving as a buy signal.

At press time, SHIB’s price DAA is 12.17%, suggesting the latter and flashing a buying opportunity.

Similarly, the Market Value to Realized Value (MVRV) ratio also corroborates this bias. This ratio uses the level of market profitability to determine whether a cryptocurrency is undervalued or overvalued relative to its fair value.

It also helps to spot tops and bottoms. Specifically, if the MVRV ratio is extremely high, holders have many unrealized profits, suggesting that they could be willing to sell. If this happens, it puts downward pressure on the price.

On the other hand, a low ratio suggests a low level of unrealized gains—sometimes, increased losses. If this is the case, market participants will rather hold than sell, which could offer stability to the cryptocurrency price.

As shown above, the ratio in SHIB’s case is 0.69. This indicates higher unrealized losses than profits. As such, as supported by historical data, this could be a spot for increased accumulation before a notable bounce appears.

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