SHIB is poised for a rebound after a short-term correction
Market Status
The current price of SHIB/USDT is **$0.00002391**, with a slight daily drop of **-0.58%**, a 24-hour high of **$0.00002428**, and a low of **$0.00002342**. There has been a slight correction in the short term, while the overall trend remains in a high consolidation phase.
Technical Analysis
1. Moving Average Observation:
• MA7: $0.00002390
• MA25: $0.00002368
• MA99: $0.00002238
The current price is near MA7, providing strong short-term support.
2. RSI Indicator:
• RSI(6): 48.73
• RSI(12): 56.34
• RSI(24): 57.12
The RSI shows a neutral to weak market, with potential upward momentum in the short term.
3. MACD Indicator:
• DIF: 0.00000039
• DEA: 0.00000049
• MACD: -0.00000010
The MACD bearish signal is weakening, indicating a potential rebound opportunity in the short term.
4. Support and Resistance Levels:
• Key Support: $0.00002350, $0.00002300
• Key Resistance: $0.00002400, $0.00002450
Short-term Trading Strategy
• Long Position Suggestions:
• Entry Point: $0.00002350
• Take Profit Targets: $0.00002400, $0.00002450
• Stop Loss Point: $0.00002320
• Short Position Suggestions:
• Entry Point: If the price rebounds and faces resistance above **$0.00002400**.
• Take Profit Targets: $0.00002350, $0.00002320
• Stop Loss Point: $0.00002460
Market Outlook
SHIB is in a high consolidation phase, with market sentiment still relatively high. If it can break through **$0.00002400**, it is likely to set new highs; if it corrects to the support level, consider accumulating.
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