technical analysis and trade signal for $SHIB /USDT:🚀🚀🚀🔥🔥🔥
Current Price: 0.00002750 USDT
Support Levels:
First Support: 0.00002684 (Recent 24h low, strong support level)
Second Support: 0.00002650 (Previous consolidation zone)
Resistance Levels:
First Resistance: 0.00002833 (24h high, immediate resistance)
Second Resistance: 0.00002900 (Psychological resistance and previous high)
Moving Averages:
50 EMA is above 200 EMA, indicating a bullish trend.
RSI is around 60, suggesting that SHIB is in a neutral to slightly bullish zone.
Momentum:
The price is showing a slight upward momentum with a 0.84% gain in the last 24 hours.
MACD is positive, with a bullish crossover, confirming the continuation of upward movement in the short-term.
Trade Signal:
Buy Signal: When SHIB breaks above 0.00002833 and holds above that level, it could signal further upward movement.
Stop-Loss: Set a stop-loss around 0.00002650 to manage risk.
Target Levels:
Target 1: 0.00002880 (A potential resistance level)
Target 2: 0.00002950 (A higher resistance point and psychological level)
Target 3: 0.00003000 (A strong resistance level)
Trade Momentum:
Given the current bullish momentum, we anticipate a continuation of upward price action. However, keep an eye on volume for confirmation—if volume decreases, the rally might lose strength.
If the price falls below 0.00002650, consider re-evaluating the trade as downward pressure might increase.