View the latest chart $SHIB
1. **Continuing Downtrend**: SHIB price is currently at 0.00001887, which represents a decline of 10.40% in the last 24 hours. This trend continues to decline significantly, with a percentage decrease of 23.20% in the last 30 days and 27.78% in the last 90 days.
2. **Support and Resistance Levels**:
- **Support**: The nearest support level is around 0.00001860. If the price breaks this level, the potential for further declines could occur.
- **Resistance**: Key resistance levels are seen around 0.00002230, 0.00002375, and 0.00002544. In the event of a trend reversal, the price must break these levels to show a stronger bullish signal.
3. **Stochastic Indicator**: The stochastic indicator is in oversold conditions with values below 20 (9.47 and 6.38), indicating that the price may be oversold and there is a potential for an upward reversal in the near future.
4. **Trading Volume**: Trading volume in the last 24 hours reached 3.50T SHIB and 68.95M USDT, indicating high activity in the market. High volume activity can be an indicator of significant interest from the market.
5. **Order Book Analysis**: Currently, there is a balance between supply and demand with a fairly balanced bid-ask ratio. This shows that both buyers and sellers are active in the market.
•Potential Strategy
- **Buy**: If technical indicators such as stochastics show a reversal and the price holds above a key support level, considering buying at this level could be a good strategy.
- **Sell**: If the price continues to fall and breaks a significant support level, it is better to wait until there are clear signs of reversal before entering a new buy position.
•Conclusion
Shiba Inu price movement is currently under strong selling pressure, but oversold conditions on technical indicators suggest a potential reversal in the near term.