đš $SHIB /USDT Analysis: Breakout Momentum or Retracement? đš
SHIB is currently trading at $0.00003089, up an impressive 15.09% in the last 24 hours, hitting a high of $0.00003316 and a low of $0.00002660. The bullish momentum is undeniable, but will it continue its upward trajectory? Letâs explore the critical levels.
Key Levels to Watch
Resistance Targets
1ïžâŁ $0.00003316 â The current 24-hour high. Breaking above this level could signal the continuation of the bullish trend.
2ïžâŁ $0.00003500 â A psychological resistance level. Overcoming this will likely attract more buyers.
3ïžâŁ $0.00003700 â A strong upside target, representing significant bullish momentum if reached.
Support Levels
đ $0.00003000 â Immediate support. Losing this level could lead to further retracement.
đ $0.00002660 â The critical support zone. A breach here may push SHIB into a bearish trend.
Technical Overview
Momentum: The sharp rally indicates strong bullish sentiment, but signs of consolidation are emerging.
Volume: With 33.64T SHIB traded in the last 24 hours, volume remains high, supporting potential volatility.
Trend: Short-term trend remains bullish as long as SHIB stays above $0.00003000.
Trade Setup
đ Long Entry: Enter above $0.00003316, targeting $0.00003500 and $0.00003700. Place a stop-loss at $0.00003000.
đ Short Entry: Enter below $0.00003000, targeting $0.00002660 or lower. Set a stop-loss at $0.00003316.
đš Note: As SHIB trades near critical levels, watch for volume spikes and breakout signals to confirm the next move. Tight risk management is crucial in this volatile market.