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Technical Analysis Report for SHIB/USDT
Time Frame: 1-Day Chart
Current Price: $0.00003014
24H Change: -2.05%
24H High: $0.00003316
24H Low: $0.00002939
Price Action Overview:
The coin is exhibiting downward momentum with slight consolidation around the current price. The price is trending below recent highs and testing support levels. A potential breakout or further decline could occur depending on volume and market sentiment.
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Key Levels:
Resistance Levels:
1. $0.00003320 (Major resistance from the previous high)
2. $0.00003160 (Minor resistance; aligns with MA indicators)
Support Levels:
1. $0.00002940 (Immediate support; recent low)
2. $0.00002800 (Critical support zone for further breakdowns)
Indicators:
Moving Averages (MA):
MA(5): $0.00003010 (Bearish trend)
MA(10): $0.00003624 (Bearish; aligns with resistance levels)
Volume: $946.71M USDT (Moderate volume indicates caution for breakout stability).
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Trade Signals:
Short Trade Signal:
Entry Price: Below $0.00003000
Stop Loss: $0.00003050
Take Profit Targets:
1. $0.00002940
2. $0.00002880
3. $0.00002800
Long Trade Signal:
Entry Price: Above $0.00003160 (Wait for a confirmed breakout)
Stop Loss: $0.00003100
Take Profit Targets:
1. $0.00003250
2. $0.00003320
3. $0.00003450
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Cautionary Note:
Monitor the $0.00002940 support level closely; a breakdown could trigger sharp declines.
Watch for volume spikes and breakout confirmations above resistance for long trades.
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