$SHIB
4hr time frame analysis š
š Trend Analysis
ā¢The 4-hour chart shows a clear uptrend from the $0.00001548 low in early October to its recent high of $0.00003046 at the end of November.
ā¢After hitting the high, price correction took place, but the market has been maintaining higher lows, indicating bullish momentum.
š Support and Resistance Levels
ā¢Key Support: Around $0.00002202āPrice has consistently rebounded from this level.
ā¢Key Resistance: $0.00003046āThe chart shows multiple attempts to break this level, making it crucial.
š Volume Insights
ā¢High trading volume during the run-up to the recent high.
ā¢Current volume remains moderate, suggesting continued interest but some caution from traders.
š Indicators Overview
ā¢RSI: Likely nearing overbought territory during recent spikes, signaling potential reversals.
ā¢MACD: Shows bullish crossover, reinforcing the upward trend.
ā¢Bollinger Bands: Price touched the upper band during peaks, indicating momentum shifts.
ā ļø What to Watch
1.Breakout above $0.00003046 could trigger another bullish rally.
2.Failure to hold $0.00002202 support may lead to bearish consolidation.
š Conclusion
SHIB/USDT shows strong potential, but traders should watch for breakout confirmation or signs of reversal near support. Keep an eye on volume and RSI for more confidence in future moves! š
