technical analysis and trade signals for $SHIB /USDT:
1. Current Price: 0.00002711 ( +0.56% over 24 hours)
2. Trend Analysis: SHIB has been trading within a range of 0.00002418 to 0.00002753, showing some bullish recovery. It has experienced slight corrections in the short term, but there is potential for a continuation of upward movement.
Support Level: 0.00002418 (24h Low)
Resistance Level: 0.00002753 (24h High)
Key Moving Averages:
50 EMA: 0.00002650 (slightly above current price)
200 EMA: 0.00002530 (indicating a slight bullish trend)
3. Momentum: The short-term momentum shows a slight pullback, but the overall trend is bullish. The volume of trades supports a potential upward breakout, particularly if it holds above the support level.
Trade Signals & Targets
Entry Signal:
Buy Entry: 0.00002650 (above 50 EMA and support level)
Stop Loss: 0.00002450 (just below 24h low)
Take Profit Targets:
1. Target 1: 0.00002720 (+3.4% from current price) — A reasonable first resistance level.
2. Target 2: 0.00002780 (+5.0% from current price) — Next key resistance.
3. Target 3: 0.00002850 (+7.5% from current price) — Higher bullish breakout target.
Momentum Indicator:
RSI: 62 (slightly bullish, indicating room for upward movement before reaching overbought conditions)
MACD: Bullish crossover on 4-hour chart, indicating momentum is on the upside.
Trade Plan
Bullish Bias: Given the overall market sentiment and bullish trend, the best approach is to go long if the price holds above the 50 EMA.
Short-term Watch: If the price fails to hold above 0.00002650, a pullback to 0.00002450 may occur, which could provide another buying opportunity for a rebound.