Technical analysis and market observation
Moving average system analysis
Short-term moving average (MA7):
The current price of 0.022808 is slightly above the short-term moving average, indicating that the short-term trend is still bullish.
MA7 shows an upward trend, but the deviation between the current candlestick and the short-term moving average is large, indicating a possible need for a short-term pullback.
Mid-term moving average (MA30):
The mid-term moving average has been broken, and the price has stabilized above it, indicating that the trend is shifting from weak consolidation to strong.
MA30 has started to turn upwards, and if this momentum continues in the future, it will provide support for the price.
Long-term moving average (MA100):
The current price has just broken through the long-term moving average, indicating that the market is transitioning from a medium to long-term weak phase to a medium-term strong phase, but signs of a tug-of-war between bulls and bears are evident.
Bollinger Band observation
Upper resistance: Around 0.023300, the current price is close to the upper band, posing a certain pullback risk.
Middle support: Around 0.022000, a pullback to this area may provide a buying opportunity.
Lower support: 0.020500, which is the extreme short-term support.
Candlestick patterns
Yesterday, SHIB recorded a strong bullish line, but today’s candlestick shows a pullback after a rise, indicating a slight weakening of bullish momentum in the market.
In the short term, there is significant selling pressure near 0.023000, which may hinder further upward movement.
MACD and RSI
MACD: After the golden cross between DIF and DEA, it remains upward, and the red momentum bars continue to expand, but the increase has slightly slowed down.
RSI: The indicator is in the 65-70 range, indicating that the market is still in a strong area but is nearing overbought levels.
Volume observation
Volume has slightly decreased, indicating that the current bullish momentum at high levels is insufficient, and short-term pullback risks need to be guarded against.
Today's operation suggestion
Operational direction: Cautiously buy on dips and avoid chasing high prices
Long position layout:
Entry range: 0.022300 ~ 0.022500
First take profit level: 0.023000
Second take profit level: 0.023300
Stop loss level: 0.022000
Although today’s SHIB bullish sentiment is dominant, the resistance near 0.023300 is relatively strong. In the short term, the price is expected to fluctuate within the range of 0.022300 ~ 0.023300. If it can break through 0.023300, it is expected to further test 0.023600; otherwise, there may be a pullback to around 0.022000.
Summary and suggestions
The current SHIB trend is in a high position consolidation phase; it is recommended to mainly buy on dips in the short term, and be cautious when chasing high prices.
Both bulls and bears need to strictly control their positions and pay attention to the setting of take profit and stop loss.
Key resistance to watch is 0.023300, and key support to watch is 0.022000, which will determine the direction choice in the short term.
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