$SHIB /USDT Technical Analysis:
Current Price: 0.00002123
24h High: 0.00002151
24h Low: 0.00002071
Trend Analysis:
The SHIB/USDT pair is currently showing a consolidation pattern, with some upward momentum over the past 24 hours. However, there are slight fluctuations in price, suggesting caution around immediate resistance levels. The current price is near the mid-range of the 24-hour price movement, which shows some consolidation after a minor dip.
Key Levels:
1. Support: 0.00002071 (24h Low)
2. Resistance: 0.00002151 (24h High)
3. Target 1: 0.00002160 (Short-term Resistance Breakout)
4. Target 2: 0.00002200 (Mid-term Bullish Continuation)
5. Target 3: 0.00002300 (Long-term Bullish Target)
Trade Signal:
Entry Point: Consider entering the trade near 0.00002123 to 0.00002100 range.
Stop Loss: Set stop loss below 0.00002050 to protect against a breakdown below support.
Take Profit Levels:
Target 1: 0.00002160 (short-term profit taking)
Target 2: 0.00002200 (mid-term continuation)
Target 3: 0.00002300 (long-term bullish target)
Momentum:
Bullish Momentum: The market has shown slight upward pressure (+0.24% in the last 24 hours), indicating the potential for a continuation towards resistance levels.
Volume Analysis: With a high volume of 1.74T SHIB traded, it suggests strong market activity, supporting a potential breakout.
Conclusion:
Short-Term: The price is consolidating, but breaking above 0.00002151 may lead to a continuation towards higher levels.
Long-Term: A bullish trend continuation is expected if SHIB can break and sustain above 0.00002200.
Trade Recommendation: Hold for a breakout above 0.00002151 and aim for targets 1, 2, and 3 in a staggered manner. Keep a close eye on volume trends for confirmation.