š„ SHIB/USDT Analysis: Is Shiba Ready for a Breakout? š„
Hereās what the chart is showing us right now:
š Current Price: 0.00002235 USDT (+4.20%)
ā 24H Range: 0.00002118 - 0.00002284 USDT
š Trend Overview: SHIB is attempting to rebound after a bearish pullback.
Key Observations:
1ļøā£ Short-Term Movement:
ā¢ The price is hovering near the MA(7) (0.00002231), showing that bulls and bears are battling for control.
2ļøā£ Support Levels:
ā¢ Strong support lies around 0.00002147 (MA 99). A bounce off this level shows resilience in the market.
3ļøā£ Resistance to Watch:
ā¢ The MA(25) at 0.00002717 is a critical resistance. Breaking above it could trigger a new bullish trend.
4ļøā£ Volume Trends:
ā¢ Buyers are stepping in, as seen in the recent spike in green volume bars. However, sustained interest is necessary to push higher.
5ļøā£ Candlestick Patterns:
ā¢ Recent candles show long lower wicks, suggesting strong buyer demand at lower levels. Watch for a daily close above 0.00002250 for bullish confirmation.
Key Levels to Monitor:
š” Support:
ā¢ 0.00002150 (Immediate)
ā¢ 0.00001532 (Major long-term)
š” Resistance:
ā¢ 0.00002284 (Short-term)
ā¢ 0.00002717 (Major breakout level)
My Thoughts:
āļø Right now, SHIB is in a consolidation phase. If bulls can break above 0.00002250, we could see a test of the 0.00002717 resistance. On the flip side, a break below 0.00002150 could signal more downside, potentially testing 0.00001532.
š Trade Idea:
ā¢ Bullish Scenario: Buy the breakout above 0.00002250 with a target of 0.00002700+.
ā¢ Bearish Scenario: Short if the price breaks below 0.00002150, targeting 0.00001532.
š¬ What do you think? Will SHIB continue to rise, or are we heading for another dip? Share your thoughts below!
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