🚨 $SHIB /USDT Analysis: Breakout Momentum or Retracement? 🚨
SHIB is currently trading at $0.00003089, up an impressive 15.09% in the last 24 hours, hitting a high of $0.00003316 and a low of $0.00002660. The bullish momentum is undeniable, but will it continue its upward trajectory? Let’s explore the critical levels.
Key Levels to Watch
Resistance Targets
1️⃣ $0.00003316 – The current 24-hour high. Breaking above this level could signal the continuation of the bullish trend.
2️⃣ $0.00003500 – A psychological resistance level. Overcoming this will likely attract more buyers.
3️⃣ $0.00003700 – A strong upside target, representing significant bullish momentum if reached.
Support Levels
📉 $0.00003000 – Immediate support. Losing this level could lead to further retracement.
📉 $0.00002660 – The critical support zone. A breach here may push SHIB into a bearish trend.
Technical Overview
Momentum: The sharp rally indicates strong bullish sentiment, but signs of consolidation are emerging.
Volume: With 33.64T SHIB traded in the last 24 hours, volume remains high, supporting potential volatility.
Trend: Short-term trend remains bullish as long as SHIB stays above $0.00003000.
Trade Setup
📈 Long Entry: Enter above $0.00003316, targeting $0.00003500 and $0.00003700. Place a stop-loss at $0.00003000.
📉 Short Entry: Enter below $0.00003000, targeting $0.00002660 or lower. Set a stop-loss at $0.00003316.
🚨 Note: As SHIB trades near critical levels, watch for volume spikes and breakout signals to confirm the next move. Tight risk management is crucial in this volatile market.