SHIB/USDT Technical Analysis Report
Overview:
Current Price: 0.00003237 USDT
24h High: 0.00003316 USDT
24h Low: 0.00002660 USDT
24h Change: +20.60%
Trading Volume: 28.32T SHIB
On the 1-hour timeframe, SHIB/USDT has demonstrated strong bullish momentum, with a 20.60% price increase over the last 24 hours. The market is recovering sharply, moving away from the recent lows of 0.00002660 USDT. However, slight consolidation is visible near the current price, indicating a potential pullback.
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Key Levels:
Resistance Levels (Bearish/Red):
Primary Resistance: 0.00003316 USDT (recent high)
Secondary Resistance: 0.00003500 USDT
Support Levels (Bullish/Green):
Primary Support: 0.00003160 USDT (near moving average)
Secondary Support: 0.00003000 USDT
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Short Trade Signal:
Entry Price: 0.00003230 USDT (if price breaks below support at 0.00003160 USDT)
Stop Loss: 0.00003330 USDT (above primary resistance)
Take-Profit Targets:
1. 0.00003120 USDT
2. 0.00003050 USDT
3. 0.00002980 USDT
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Long Trade Signal:
Entry Price: 0.00003240 USDT (if price sustains above 0.00003230 USDT with volume)
Stop Loss: 0.00003150 USDT (below key support)
Take-Profit Targets:
1. 0.00003350 USDT
2. 0.00003500 USDT
3. 0.00003680 USDT
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Indicators:
Moving Averages:
MA(5): 0.00003398 (bullish above current price)
MA(10): 0.00003591 (acting as a resistance level)
RSI: Suggest checking RSI for overbought conditions, as the price has surged over 20%.
MACD: Confirm bullish cross for sustained momentum.
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Cautionary Note:
Traders should monitor market stability as SHIB/USDT approaches the resistance zone. A breakout above 0.00003316 USDT with high volume could signal further upside. Conversely, failure to hold above the 0.00003160 support might indicate a trend reversal. Watch for news or whale movements that may impact the price.
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