Shiba Inu (SHIB) Rally Indicator Turns Bullish, Predicts 118% Surge: Top Crypto Analyst's Insights
Crypto Trader Ali Martinez Suggests Potential Rally for Second-Largest Memecoin by Market Cap, Backed by Key Indicator
Martinez, addressing his 31,600 followers on the social media platform X, highlights that the Tom Demark (TD) Sequential indicator is currently showing a promising long opportunity for Shiba Inu (SHIB) when examining the weekly chart.
The TD Sequential indicator serves as a valuable tool for traders, allowing them to anticipate potential trend reversals based on the closing prices of the preceding 13 bars or candles. Martinez points out that in recent occurrences, when the TD Sequential indicator flashed bullish signals for Shiba Inu, it resulted in significant rallies of "118% and 71%," respectively.
Given the rare yet highly accurate nature of such signals, Martinez emphasizes the importance of closely monitoring SHIB during this pivotal moment.
As of the current moment, SHIB is valued at $0.00000738.
When it comes to Bitcoin (BTC), the crypto analyst examines the UTXO Realized Price Distribution (URPD) model, indicating that the next significant resistance levels are approximately 13% and 38% higher than the present price. The UTXO Realized Price Distribution model tracks the quantity of coins that were last transferred within specific price ranges.
Regarding Bitcoin's recent price action, it has established a robust support zone within the $25,000 to $30,000 range. According to the UTXO Realized Price Distribution (URPD) model, the model now suggests that the following two crucial resistance levels for BTC are positioned at $38,440 and $47,360.
As of the current moment, Bitcoin (BTC) is trading at $34,140.
Oct 27, 2023