SHIB/USDT is Ready For a Potential Rally | Shiba Inu Analysis

23 ส.ค. 2023

💎Hello Ladies & Gentleman of ParadisersClub, SHIB/USDT is currently on an intriguing path, steering towards a likely upward swing.

💎In our previous analyses, we saw how demand morphed into supply, causing a significant dip in price. As of now, a 4-hour chart reveals an order block, indicating that the price could soon reach this demand zone and ignite a bullish wave.

💎Diving deeper, Shiba Inu experienced a 36% correction after plummeting from its peak on August 12th, even dipping below the 0.618 Fibonacci retracement level.

💎What's captivating is the candle on August 17th, which closed above this Fibonacci level, and the subsequent Doji candle on August 22nd. This Doji, with its long lower wick and green close, reversed before even touching the 0.618 support.

💎This pattern suggests that while bears attempted to drive the price down, the bulls swooped in, buying up assets and potentially setting the stage for a bullish run.

💎Stay alert and adaptable, Paradisers. Keep your eyes peeled for more updates and happy trading!