đThe chart shared shows the SHIB/USDT pair with the following observations:đ
1. Current Price Movement:
âą The price is trading at 0.00002311 USDT, showing a 3.59% increase in the last 24 hours.
2. 24-Hour Range:
âą High: 0.00002408 USDT
âą Low: 0.00002202 USDT
3. Moving Averages:
âą The shorter-term MA(7) is at 0.00002317, slightly above the current price, suggesting a minor pullback from recent gains.
âą Mid-term MA(25) and longer-term MA(99) levels (at 0.00002303 and 0.00002224, respectively) are indicating a consolidating trend.
4. Volume:
âą SHIBâs 24-hour trading volume is significant, at 3.86 trillion SHIB, highlighting active market participation.
âą A 90-day increase of 48.52% in volume suggests rising interest in SHIB over the medium term.
5. Trend Analysis:
âą The price reached a recent high of 0.00002408 USDT, followed by a slight retracement. This could indicate profit-taking by traders or a temporary resistance level.
âą Support levels are visible near 0.00002200, as shown by the lower bounds of recent candles.
6. Predictions:
âą If SHIB maintains support at current levels and breaks past 0.00002408, it could signal bullish momentum toward higher highs.
âą Failure to hold 0.00002200 may lead to further retracements, testing the next support near 0.00002100.
7. Indicators:
âą With 111.24% growth over the past year, SHIB has shown strong long-term bullish performance, but the shorter-term downtrends over 7 days (-14.22%) suggest caution for immediate trades.
Conclusion:
SHIB is showing potential consolidation after a rally, with significant market interest and support around current levels. A breakout above 0.00002408 could signal bullish continuation, while a drop below 0.00002200 may indicate further corrections.
