technical analysis for the $SHIB /USDT pair along with trade signals and target levels:
Technical Analysis:
Current Price: 0.00003028 (Up by 8.34% in the last 24 hours)
Support Level: 0.00002750 (recent low)
Resistance Level: 0.00003079 (recent high)
Trend Analysis:
The price is currently in an upward momentum, showing strength as it increased by +8.34% in the last 24 hours. Despite small corrections in the short-term, the overall trend remains positive. The support at 0.00002750 and resistance at 0.00003079 create a key range for price action.
RSI (Relative Strength Index): RSI is above 50, indicating the market is still in bullish momentum.
MACD (Moving Average Convergence Divergence): The MACD is above the signal line, confirming the ongoing bullish trend.
Trade Signal:
Entry Signal: Buy near the support level around 0.00002750, with a stop loss at 0.00002600 to manage risk.
Exit Signal: Take profit at the following target levels:
Target 1: 0.00003000
Target 2: 0.00003100
Target 3: 0.00003200
Trade Momentum:
The price shows a good recovery after recent dips, and the upward momentum is expected to continue in the short term. Momentum indicators like RSI and MACD support a bullish outlook.
Momentum Indicators: A positive momentum suggests buying near support with targets set at 0.00003000, 0.00003100, and 0.00003200.
Risk Management:
Stop Loss: Place a stop loss below 0.00002600 to limit downside risk.
Take Profit: Set multiple take profit levels to secure profits as the price reaches each target.
Summary:
Overall Bias: Bullish
Entry Point: 0.00002750 (or close to it)
Stop Loss: 0.00002600
Target Levels: 0.00003000, 0.00003100, 0.00003200