/USDT.🚀🔥
1. Current price position:
SHIB/USDT is trading at $0.00002786, slightly above the upper Bollinger band ($0.00002697) and the SAR level ($0.00002416). This indicates bullish momentum, but the price may be reaching overbought levels.
Considering the recent rise (+44.5%), we can expect some consolidation or a slight pullback before further increases, especially as the price breaks above the Bollinger bands.
2. Support and resistance levels:
Support: The nearest support is at the Bollinger middle band ($0.00002404) and the parabolic SAR ($0.00002416).
Resistance: The previous high of $0.00002795 may serve as immediate resistance.
3. Targets: Based on current levels and momentum, here are three potential targets:
Target 1: $0.00002850
This level is above the recent high, using current momentum. If SHIB/USDT breaks and holds above $0.00002795, reaching this target may confirm the ongoing bullish sentiment.
Target 2: $0.00003000
A psychologically significant level and a round strong number is likely to attract selling interest if reached.
Target 3: $0.00003200
If the bullish momentum continues, this level will represent a significant gain and may become upper resistance in a breakout scenario.
4. Stop-loss:
Consider a stop-loss below the SAR and the Bollinger middle band, around $0.00002400, to manage risk in case of a trend reversal.
Signal:
Watch for consolidation around $0.00002795 before entering, or wait for a breakout above $0.00002795 with high trading volume.
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