$SHIB /USDT Technical Analysis and Trade Signal

Current Price: $0.00002267 (up 2.12%)

Trend Analysis:

The price of SHIB is currently showing bullish momentum with a modest rise of 2.12%. The price has been moving between the 24-hour high of $0.00002306 and the low of $0.00002197. The market appears to be in an upward correction after reaching a short-term low, suggesting potential continuation in the upward trend if the support levels hold.

Key Support and Resistance Levels:

Support: $0.00002197 (24h low)

Resistance: $0.00002306 (24h high)

Trade Signal:

Trade Direction: Bullish (Buy)

Entry Point: $0.00002255 – $0.00002267 (near current price)

Stop Loss: $0.00002190 (below the support level)

Target Levels 🎯:

1. Target 1: $0.00002330 (near previous resistance)

2. Target 2: $0.00002370 (next resistance level)

3. Target 3: $0.00002400 (strong psychological resistance level)

Trade Momentum:

Bullish Momentum: The recent 2.12% increase in price signals a continuation of the uptrend. RSI is showing signs of rising momentum but isn't in overbought territory yet, indicating room for further movement upwards.

Volume: The volume in the last 24 hours has been healthy, with $64.63 million in USDT traded, confirming the price movement is backed by strong market interest.

Conclusion:

Based on the current price movement and indicators, the trade signal is bullish with an entry range of $0.00002255 to $0.00002267. Target levels are set at $0.00002330, $0.00002370, and $0.00002400, while the stop loss is placed at $0.00002190 to manage risk. Keep an eye on the market volume and any potential reversal signals for further adjustments.

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