$SHIB
/USDT Technical Analysis & Trade Signal:馃敟馃挴
Current Price: 0.00002147 (down 10.09% in 24 hours)
Market Overview:
The price has shown some volatility in the last 24 hours, reaching a high of 0.00002393 and a low of 0.00002121.
The current price sits just above the 24-hour low, indicating possible bearish momentum.
Trend: Bearish (Short-term) - With the recent drop and current price below critical resistance levels, bearish sentiment dominates.
Trade Signal:
Entry Point: Consider entering a short position if the price breaks below 0.00002121.
Target Levels (Profit Targets):
1. First Target: 0.00002110 (support level)
2. Second Target: 0.00002080 (next potential support)
3. Third Target: 0.00002000 (strong support area)
Stop Loss: Set at 0.00002250 to protect against unexpected reversals.
Momentum:
Current momentum is bearish, with increased selling pressure, reflected by the recent 24-hour volume (5.65 trillion SHIB traded).
Indicators like RSI and MACD could confirm short opportunities at further weakness.
Caution: Watch for any potential reversal or consolidation around the support zone for potential entry in long positions after further confirmation of trend change.