$SHIB /USDT

In this post, we analyze the recent price action and resistance levels of a cryptocurrency trading on Binance. The chart presented is a 4-hour candlestick chart, showcasing the movement over a few days.

### Spot Price Analysis

As of the last candle, the spot price is at 0.00001648, experiencing a minor upward movement after a significant downward trend. The Moving Averages (MAs) displayed are MA(7) at 0.00001415, MA(25) at 0.00001584, and MA(99) at 0.00001710. These averages suggest that the price is still below long-term trends, indicating potential bearish sentiment in the market.

### Resistance Levels

Several resistance levels can be identified from the chart:

1. **Immediate Resistance**: The spot price needs to break above the MA(7) at 0.00001415 to signal a short-term reversal.

2. **Secondary Resistance**: The next significant resistance is the MA(25) at 0.00001584. This level is crucial as it represents the mid-term trend.

3. **Major Resistance**: The MA(99) at 0.00001710 serves as the major resistance, marking a long-term bearish outlook unless surpassed.

### Volume and Momentum Indicators

The volume indicator shows a significant increase around the recent low at 0.00001266, indicating strong buying interest. The MACD, RSI, and KDJ indicators are also essential to watch for confirming the trend reversal.

In conclusion, while the spot price shows signs of a minor recovery, breaking above these key resistance levels is vital for a sustained bullish trend. Traders should monitor the market closely for further developments.#SOFR_Spike #US_Job_Market_Slowdown #BinanceTurns7 #VanEck_SOL_ETFS #ETH_ETFs_Approval_Predictions