Is the anticipated attack on the popular meme coin Shiba Inu (SHIB) imminent? The MACD technical indicator, showing the first signal of a medium-term reversal, suggests that the SHIB attack may be closer than ever before.
The Moving Average Convergence Deviation indicator (MACD) is a widely used indicator to determine the reversal points of financial assets.
The MACD indicator uses two 12- and 26-period moving averages to spot bullish and bearish reversals. When the moving average crosses in one or the other direction, traders can determine whether the asset is changing the direction of movement or a continuous movement. In addition to moving averages, the indicator can also show momentum strength with the help of a histogram.
According to the chart quoted by TradingView, the MACD signaled a reversal on December 21 and 22. After the signal emerged, the Shiba Inu displayed an upward movement of 4% on the day. This pales in comparison to previously recorded performances. Investors and whales, who bought millions of dollars worth of tokens after the signal in the indicator, were included in the records as factors that triggered the rise.
In addition to the moving averages, the MACD histogram confirms the trend reversal to the upside. However, in the short term, the signals of trend reversal are not strong enough and provide valuable information about the potential. Other technical indicators, fundamental chain and market indicators, show that the Shiba Inu is currently in a more positive spot compared to the 70% correction period. In the medium term, experts' comments are shaped in the direction of a 200% rally.
The recovery in the global market is currently driving the price of the Shiba Inu higher. Because the decline in coins is around $0.00003000 at the monthly S1 support level, while also stopping the descending trend line. It is discussed that the short-term contraction could lead to a bullish sentiment that could initially return to $0.000004490 and then possibly to $0.00008373 if the global economy recovers.