Shiba Inu ($SHIB ) Technical Analysis

Current Situation: SHIB is currently trading at $0.00002482, up by 0.36%. The Bollinger Bands suggest a tight range-bound market, with the price hovering close to the midpoint (MB).

Short-term Outlook:

* Short Trade: Enter a short position at the resistance level of $0.00002688. Target the support level at $0.00002314. Stop loss at $0.00002798.

* Long Trade: Enter a long position at the support level of $0.00002314. Target the resistance level at $0.00002688. Stop loss at $0.00002259.

Market Sentiment: The chart indicates a neutral to slightly bearish sentiment. The price action is confined within a narrow range, suggesting indecision among traders.

Next Move: A break above the upper Bollinger Band ($0.00002601) could signal a bullish breakout. Conversely, a break below the lower Bollinger Band ($0.00002358) could indicate a bearish trend.

Leverage: Use leverage cautiously, as it can amplify both profits and losses.

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