🔥🔥🔥technical analysis and trade signal for $SHIB /USDT based on the current price and market data:🚀🚀🚀🚀
Current Price: 0.00002589
Trend: Bearish (price is down by -3.97% in the last 24 hours)
Support Level: 0.00002532 (24h low)
Resistance Level: 0.00002749 (24h high)
SAR Indicator: 0.00002547 (shows potential for further downward movement)
Momentum:
The momentum is slightly bearish at the moment. The price is trading near the lower boundary of its recent range, and the SAR indicator signals a downward bias. The market's 24-hour volume is also showing a dip in buying pressure, suggesting a possible continuation of the downtrend.
Trade Signal:
Entry: If the price holds above 0.00002547 (SAR level), enter a long position. However, if it breaks below 0.00002532, consider a short position.
Stop Loss: Place a stop-loss slightly below 0.00002532 (at 0.00002510) to manage risk.
Target Levels 🎯:
1. Target 1: 0.00002650 (First resistance level)
2. Target 2: 0.00002700 (Approaching 24h High)
3. Target 3: 0.00002749 (24h High)
For a short trade, if the price falls below 0.00002532, the targets will be:
1. Target 1: 0.00002500
2. Target 2: 0.00002450
3. Target 3: 0.00002400
Momentum Confirmation:
The momentum will confirm whether the price reaches the higher targets (long) or the lower ones (short). A bullish breakout above 0.00002650 could signal a potential reversal, while a bearish break below 0.00002532 would indicate a continuation of the downtrend.
