Technical Analysis Report: $SHIB /USDT

Current Price: $0.00001828 USDT

Resistance: $SHIB /USDT is currently facing resistance at $0.00002039, which represents a recent high point before the price witnessed a decline. This level could be critical for determining the short-term market sentiment. If the price can break above this resistance, it may signal a potential for further upside movement towards the 24-hour high of $0.00001986.

Support: The support level is established at $0.00001807, marked by the recent 24-hour low. A break below this support could confirm the continuation of the bearish trend, potentially leading to new lows.

Trade Recommendation:

Long Trade: Traders might consider a long position if SHIB/USDT moves above $0.00002039, targeting $0.00001986. A stop loss should be set just below the support at $0.00001807 to protect against a larger downward movement.

Short Trade: Should SHIB/USDT break below the support at $0.00001807, entering a short position could be advisable with targets set towards lower supports, while keeping a stop loss just above $0.00001807 to limit potential losses.

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