Signs of green shoots have emerged in the Shiba Inu
Market, with whale accumulation and an internal candle of the week that suggests a price recovery ahead.
The Shib price has dropped almost 27% to $ 0.00001160 since mid -May, reaching a minimum of 16 months of $ 0.00001005 at one point, according to Data Source TradingView.
However, the decrease led to whales, investors with a wide range of capital and ability to move markets, hunt bargains. These entities recently bought 10.4 billion Tokens Shibens worth $ 110 million, according to AI de Coindesk.
Meanwhile, prices bouncing 11% in the seven days of June 29, forming a “internal week” candle, pointing out a pause in the bearish trend.
The pattern occurs when the negotiation range (high) of a weekly candle is completely contained within the range of the previous weekly sail. It is a sign of indecision, with buyers and vendors who are not willing to lead the price action.
It is said that the occurrence of said sail pattern after a prolonged descending trend, as in the case of Shib, represents the depletion of the seller and a potential for an ascending price swing.
Key points
- SHIBS experienced a price change of 4.3% of $ 0.00001147 at $ 0.00001198 during the 24 -hour period of June 29, June 30 to 30 03:00.
- The most significant price action occurred between 21: 00-22: 00 on June 29, when Sib left its consolidation pattern in a volume of 5.8x above average.
- High volume resistance established at $ 0.00001198, with the subsequent taking of profits that leads to support at the level of $ 0.00001160.
- The closing price of 24 hours of $ 0.00001164 represented a gain of 1.4% from the opening level.
- In the last 60 minutes of June 30 from 02:53 to 03:52, Shib fell 0.3% of $ 0.00001167 to $ 0.00001164.
- Two different phases marked the period per hour: an initial acute decrease of $ 0.00001056 between 03: 17-03: 28, followed by an attempt to recover reach a maximum of $ 0.00001165 around 03:45.
- The volume peaks greater than 8 million dollars occurred during the key reversion points at 03:35 and 03:49, which suggests an institutional positioning.
