Check 4h chart.. It's going up.. Will touch the support then fly..

$SHIB /USDT Technical Analysis and Trade Signals


Current Price: 0.00003049

24h Change: -1.01%

Technical Analysis Overview:

Trend: The price of SHIB/USDT is currently in a slight downtrend, as indicated by the 24-hour drop of around 1%. The market sentiment shows some bearish pressure, but it's relatively stable and could be preparing for a rebound if key support levels hold.

Support Levels:

Primary Support: 0.00002910 (Recent 24h Low)

Secondary Support: 0.00002850 (Previous low)

Resistance Levels:

Primary Resistance: 0.00003152 (24h High)

Secondary Resistance: 0.00003200 (Key resistance zone)

Moving Averages:

50 EMA (Exponential Moving Average): The 50 EMA is currently near 0.00003100, indicating potential resistance if the price attempts a recovery.

200 EMA: The 200 EMA is closer to 0.00003250, suggesting that the longer-term trend may still be under pressure.

RSI (Relative Strength Index): The RSI is currently around 45, which suggests that the market is neither overbought nor oversold, indicating neutral momentum and a potential for consolidation or a reversal.

Trade Signals:

1. Buy Signal:

If the price breaks above 0.00003152, expect momentum to shift towards the upside, with the next target at 0.00003200. Look for volume confirmation to support the breakout.

2. Sell Signal:

If the price drops below 0.00002910, it could signal a continuation of the downtrend. A break of this level would lead to further downside towards 0.00002850.

3. Range Trading:

In case the price remains between 0.00002910 and 0.00003152, consider range trading, buying near support and selling near resistance.

Target Levels 🎯:

1. First Target: 0.00003200 – Watch for a break of the 24h high for this target, which aligns with the longer-term resistance zone.

2. Second Target: 0.00003350 – If the price can continue above 0.00003200, this target becomes plausible.

3. Third Target: 0.00003500 – A strong bullish trend could lead to this higher target as the next significant resistance level.

#BURNGMT #2024withBinance