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Bullish
$SHIB /USDT Technical Analysis and Trade Signals
Current Price: 0.00003049
24h Change: -1.01%
Technical Analysis Overview:
Trend: The price of SHIB/USDT is currently in a slight downtrend, as indicated by the 24-hour drop of around 1%. The market sentiment shows some bearish pressure, but it's relatively stable and could be preparing for a rebound if key support levels hold.
Support Levels:
Primary Support: 0.00002910 (Recent 24h Low)
Secondary Support: 0.00002850 (Previous low)
Resistance Levels:
Primary Resistance: 0.00003152 (24h High)
Secondary Resistance: 0.00003200 (Key resistance zone)
Moving Averages:
50 EMA (Exponential Moving Average): The 50 EMA is currently near 0.00003100, indicating potential resistance if the price attempts a recovery.
200 EMA: The 200 EMA is closer to 0.00003250, suggesting that the longer-term trend may still be under pressure.
RSI (Relative Strength Index): The RSI is currently around 45, which suggests that the market is neither overbought nor oversold, indicating neutral momentum and a potential for consolidation or a reversal.
Trade Signals:
1. Buy Signal:
If the price breaks above 0.00003152, expect momentum to shift towards the upside, with the next target at 0.00003200. Look for volume confirmation to support the breakout.
2. Sell Signal:
If the price drops below 0.00002910, it could signal a continuation of the downtrend. A break of this level would lead to further downside towards 0.00002850.
3. Range Trading:
In case the price remains between 0.00002910 and 0.00003152, consider range trading, buying near support and selling near resistance.
Target Levels 🎯:
1. First Target: 0.00003200 – Watch for a break of the 24h high for this target, which aligns with the longer-term resistance zone.
2. Second Target: 0.00003350 – If the price can continue above 0.00003200, this target becomes plausible.
3. Third Target: 0.00003500 – A strong bullish trend could lead to this higher target as the next significant resistance level.
#BURNGMT #2024withBinance
Current Price: 0.00003049
24h Change: -1.01%
Technical Analysis Overview:
Trend: The price of SHIB/USDT is currently in a slight downtrend, as indicated by the 24-hour drop of around 1%. The market sentiment shows some bearish pressure, but it's relatively stable and could be preparing for a rebound if key support levels hold.
Support Levels:
Primary Support: 0.00002910 (Recent 24h Low)
Secondary Support: 0.00002850 (Previous low)
Resistance Levels:
Primary Resistance: 0.00003152 (24h High)
Secondary Resistance: 0.00003200 (Key resistance zone)
Moving Averages:
50 EMA (Exponential Moving Average): The 50 EMA is currently near 0.00003100, indicating potential resistance if the price attempts a recovery.
200 EMA: The 200 EMA is closer to 0.00003250, suggesting that the longer-term trend may still be under pressure.
RSI (Relative Strength Index): The RSI is currently around 45, which suggests that the market is neither overbought nor oversold, indicating neutral momentum and a potential for consolidation or a reversal.
Trade Signals:
1. Buy Signal:
If the price breaks above 0.00003152, expect momentum to shift towards the upside, with the next target at 0.00003200. Look for volume confirmation to support the breakout.
2. Sell Signal:
If the price drops below 0.00002910, it could signal a continuation of the downtrend. A break of this level would lead to further downside towards 0.00002850.
3. Range Trading:
In case the price remains between 0.00002910 and 0.00003152, consider range trading, buying near support and selling near resistance.
Target Levels 🎯:
1. First Target: 0.00003200 – Watch for a break of the 24h high for this target, which aligns with the longer-term resistance zone.
2. Second Target: 0.00003350 – If the price can continue above 0.00003200, this target becomes plausible.
3. Third Target: 0.00003500 – A strong bullish trend could lead to this higher target as the next significant resistance level.
#BURNGMT #2024withBinance
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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