Technical Analysis for $SHIB /USDT

Current Price: 0.00002596

24h High: 0.00002703

24h Low: 0.00002532

SAR: 0.00002549

The SHIB/USDT pair has shown a bearish trend in the last 24 hours, with the price experiencing a decline of -3.71%. The price is currently testing support near the 0.00002532 level, which could provide a potential bounce if it holds. However, further downside may occur if the price breaks below this level.

Trade Momentum

Momentum Indicator: Bearish (due to the negative price movement over the last 24 hours and the descending trend)

Key Support: 0.00002532

Key Resistance: 0.00002703

Trade Signal

Buy Signal: If the price bounces from the 0.00002532 support level and breaks above 0.00002596, there could be potential for a reversal.

Sell Signal: If the price breaks below the support at 0.00002532, consider selling with a target at 0.00002450.

Target Levels 🎯

1. Target 1: 0.00002650

Short-term resistance level, near the recent price levels.

2. Target 2: 0.00002700

Major resistance level where the price could encounter significant selling pressure.

3. Target 3: 0.00002750

This level is crucial for a full bullish reversal and may signify further upward momentum.

Momentum Outlook:

Bearish Momentum: Watch for a breakdown below 0.00002532 for confirmation of a continuation of the downtrend.

Bullish Reversal: A strong bounce from 0.00002532 followed by a break above 0.00002596 could signal a potential upward movement.

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