🚨$SHIB SHIB/USDT – Testing Key Support Levels Amid Sell-Off!
📉 Current Price: $0.00002161 (-10.59%)
🔝 24H High: $0.00002450
🔻 24H Low: $0.00002104
💰 Volume:
SHIB: 8.96T
USDT: 200.44M
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Market Analysis
Shiba Inu (SHIB) has faced a significant sell-off, dropping over 10% in the last 24 hours. The price is now hovering near its 24H low of $0.00002104, testing critical support levels that could dictate its next move.
Immediate Resistance: $0.00002220 – A recovery above this level may indicate a short-term reversal.
Support Zone: $0.00002100 – Holding this level is crucial to prevent further declines to $0.00002050.
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Next Moves
1. For Buyers:
Consider entries near $0.00002100, targeting $0.00002220 and $0.00002350.
Wait for confirmation of a bounce before entering.
2. For Sellers:
Monitor for rejection near $0.00002220 to initiate shorts, targeting $0.00002050 as the next support.
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Key Insights
Volume Spike: High trading volume indicates active market participation despite the bearish trend.
Volatility Watch: Increased volatility suggests traders should use tight stop-losses.
Sentiment Caution: Bearish sentiment dominates, but a relief rally is possible if $0.00002100 holds.
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Final Thought
SHIB/USDT is at a critical juncture. Traders should watch the $0.00002100 level closely for signs of recovery or a breakdown. Stay cautious and position wisely.