SHIB's 4.95% Pop Looks Like a Bear Trap
SHIB's sudden 4.95% price surge on Binance spot may look like a breakout, but experts warn it could be a bear trap. According to Ted Hisokawa, momentum behind this move is essentially hollow. The Relative Strength Index (RSI) sits at 59.83, too high to call oversold but not high enough to confirm trend strength.
The Stochastic %K crossing above %D in mid-range gives bulls a sliver of credibility, but it's weak sauce in the world of meme coins. A clean intraday surge without volume follow-through is one of the most reliable bear traps in crypto. The volume on Binance spot for SHIB was only $8.82 million, significantly lower than during genuine breakouts.
The Bollinger Band reading shows that price has pushed deep into the upper third of the band structure, acting as elastic due to low volume and flat momentum. The MACD histogram printing at zero is textbook: price moved, but momentum didn't confirm. This disconnect between price and momentum is a signature of a move built on thin air.