Shiba Inu’s Bollinger Bands Reach Tightest Levels Since February 2024
Shiba Inu's (SHIB) Bollinger bands have contracted to their tightest level since February 2024, indicating a potential for a significant price swing due to decreased volatility. The cryptocurrency experienced a notable decline of 13.8% last week, dropping to $0.00001160, but has since stabilized above $0.00001200.
Key insights
- Price volatility recorded with a range of $0.000003104 (25.4% differential).
- Initial correction from $0.000012362 to $0.000011985 occurred in early trading.
- Consolidation patterns formed near the support threshold of $0.000012000.
- Recovery led to prices reaching $0.000012186 by session end.
- Transaction volume surged over 19 billion tokens during breakout phases.
- Support was challenged at $0.000012125 before resuming upward movement.
- Session peaks reached $0.000012198, indicating resistance penetration.