The $SHIB /USDT chart is currently displaying a bullish trend. The price has been steadily rising over the past 24 hours, with a 24-hour high of 0.00002571 and a 24-hour low of 0.00002326. The current price is 0.00002496, which is a 1.05% increase from the previous day's close.
Support and Resistance Levels
Support: The first level of support is at 0.00002259. This is the low point of the recent dip in price. If the price falls below this level, it could signal a further decline.
Resistance: The first level of resistance is at 0.00002588. This is the high point of the recent rally. If the price breaks through this level, it could signal a further increase.
Entry Signal
Based on the current trend and support and resistance levels, a long position (buy) could be considered at the following levels:
Entry 1: 0.00002496 (current price) with a stop-loss at 0.00002259 and a take-profit at 0.00002588.
Entry 2: 0.00002326 (24-hour low) with a stop-loss at 0.00002091 and a take-profit at 0.00002588.
Additional Considerations
The Bollinger Bands are currently contracting, which indicates that the price is consolidating. This could lead to a breakout in either direction.
The 24-hour trading volume is 8.34T, which is relatively high. This indicates that there is a lot of interest in the SHIB/USDT pair.
The meme "Hot" tag indicates that the SHIB token is currently trending on social media. This could lead to increased volatility and price swings.
Risk Management
It is important to note that all investments carry risk. It is important to do your own research and consult with a financial advisor before making any investment decisions.#BONKBURNmas #SOLWatch #XRPPriceAction #DEXXBreach #Write2Earn!