SHIB Consolidation, Key Support and Trading Strategy Analysis

Market Analysis

SHIB/USDT Current Price $0.00002069, slight drop of 0.10% within the day. The current price is constrained by MA25 ($0.00002491), with weak support at MA7 ($0.00002161), showing an overall trend of oscillating downwards. The MACD indicator shows bearish strength prevailing, and the short-term may continue with weak consolidation.

Key Levels

• Support Levels: $0.00002050, $0.00001853

• Resistance Levels: $0.00002161, $0.00002491

Trading Strategy

1. Long Position Strategy:

If the price holds above $0.00002050, a light position can be attempted for a long position, targeting $0.00002161, with a stop loss set at $0.00002030.

If it breaks above $0.00002161, increase the long position, targeting $0.00002491, with a stop loss set at $0.00002120.

2. Short Position Strategy:

If the price breaks below $0.00002050, a light position can be attempted for a short position, targeting $0.00001853, with a stop loss set at $0.00002080.

If it rebounds to $0.00002161 and meets resistance, a short position can be attempted, targeting $0.00002050, with a stop loss set at $0.00002200.

Market Outlook

SHIB is currently in a trend of oscillating downwards, with significant resistance for a short-term rebound. Attention should be paid to the defense of key support levels. Once it loses $0.00002050, the downside potential may further open; if it can break above the resistance, it is expected to enter a corrective market.

Welcome to follow, don’t get lost. Every day, we will analyze the trends and levels of mainstream cryptocurrencies and popular altcoins. Wishing everyone prosperity and a prosperous year ahead!