SHIB/USDT: The downtrend continues after the price reached a peak of 0.00002245, currently trading at 0.00002175 (-1.89%).

Detailed analysis:

Current price: 0.00002175, with a 24-hour low of 0.00002167 and a high of 0.00002245.

Resistance: 0.00002209 (MA20), 0.00002245 (nearest peak).

Support: 0.00002167 (24-hour low), further down at 0.00002128.

RSI (6): 22, indicating a clear oversold condition, with potential for a short-term rebound.

MACD: The MACD line and the signal line are both negative, confirming that the downtrend is still dominant.

Trading volume: Volume is gradually decreasing, indicating that the downtrend may be weakening.

Trading strategy:

Buy entry: Consider opening a position around the 0.00002167 area (support), expecting a rebound as RSI rises from the oversold zone.

Take profit: 0.00002209 (MA20) or further at 0.00002245 if the upward momentum is strong.

Stop loss: Set at 0.00002160, to avoid risk if the price breaks below support.

The current trend is down, but the low RSI suggests the possibility of a short-term rebound. Monitor trading volume closely to confirm reversal signals.

#SHIB #cryptoanalysis #markettrends #RSI