Technical Analysis
SHIB/USDT is currently priced at $0.00001734 on the 1-hour chart, showing significant pullback. The key support level is at $0.00001700, while resistance is at $0.00001800. The price is slightly below the 200-day SMA on the 1-hour chart ($0.00001759), indicating short-term bearish momentum.
The RSI is 23.17, indicating oversold conditions, suggesting a potential short-term rebound. The MACD shows bearish momentum, with the MACD line below the signal line.
If the price can maintain above $0.00001700 and break through $0.00001800, it could target $0.00001900. However, the current bearish indicators suggest a higher probability of continued downside movement to $0.00001600 if support fails.
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