Shiba Inu (SHIB) price action has been trading around the lower boundary of a higher-timeframe range for an extended period. This prolonged period of consolidation places attention on whether the market is developing an accumulation phase before a potential expansion, although further price and volume confirmation would be needed.
Volume may be an important factor in assessing the strength of any developing move. If SHIB begins to show increased buying participation and successfully reclaims the range-low support area, the possibility of a rotation towards the upper boundary of the established range and its associated resistance may increase. Sustained price acceptance within the range would provide additional technical support for this scenario.
However, if price remains unable to reclaim and maintain the range-low support, the market may continue to consolidate around current levels. A failure to establish a sustained recovery could also increase the possibility of further downside or continued weakness within the existing trading region.
Overall, the higher-timeframe range low remains an important technical area for SHIB. Price behaviour and volume around this region may provide insight into the market's next potential move, but no particular direction is guaranteed.
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Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more: coinjar.com/uk/risk-summary
The article is an opinion expressed by the author at a point in time and does not represent the views of CoinJar UK Limited or CoinJar Australia Pty Ltd. Take care to consider the date of this article and be aware that this opinion is based on circumstances at the time of publishing. No responsibility or liability is accepted for any errors of fact or omission expressed therein. Past performance is not a reliable indicator of future results.
This above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances; all readers should seek independent investment advice before investing in cryptocurrencies.
We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets.In the UK, it's legal to buy, hold, and trade crypto, however cryptocurrency is not regulated in the UK. It's vital to understand that once your money is in the crypto ecosystem, there are no rules to protect it, unlike with regular investments.
You should not expect to be protected if something goes wrong. So, if you make any crypto-related investments, you're unlikely to have recourse to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) if something goes wrong.
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Volume may be an important factor in assessing the strength of any developing move. If SHIB begins to show increased buying participation and successfully reclaims the range-low support area, the possibility of a rotation towards the upper boundary of the established range and its associated resistance may increase. Sustained price acceptance within the range would provide additional technical support for this scenario.
However, if price remains unable to reclaim and maintain the range-low support, the market may continue to consolidate around current levels. A failure to establish a sustained recovery could also increase the possibility of further downside or continued weakness within the existing trading region.
Overall, the higher-timeframe range low remains an important technical area for SHIB. Price behaviour and volume around this region may provide insight into the market's next potential move, but no particular direction is guaranteed.
----------------------------------------------------------------------------------------------
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more: coinjar.com/uk/risk-summary
The article is an opinion expressed by the author at a point in time and does not represent the views of CoinJar UK Limited or CoinJar Australia Pty Ltd. Take care to consider the date of this article and be aware that this opinion is based on circumstances at the time of publishing. No responsibility or liability is accepted for any errors of fact or omission expressed therein. Past performance is not a reliable indicator of future results.
This above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances; all readers should seek independent investment advice before investing in cryptocurrencies.
We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets.In the UK, it's legal to buy, hold, and trade crypto, however cryptocurrency is not regulated in the UK. It's vital to understand that once your money is in the crypto ecosystem, there are no rules to protect it, unlike with regular investments.
You should not expect to be protected if something goes wrong. So, if you make any crypto-related investments, you're unlikely to have recourse to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) if something goes wrong.
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Note
Warning: If you invest in this product, you may lose some, or all, of the money you invest. The value of crypto-assets may rise or fall rapidly. Past performance is not indicative of future results. To learn more see our Risk Disclosures.CoinJar Europe Limited is authorised by the Central Bank of Ireland as a crypto-asset service provider (registration number C496731).
Disclaimer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.