đ„ SHIB Technical Analysis: Potential Entry and Exit Points đ„
Hey guys! Taking a closer look at $SHIB âs daily chart, itâs clear that the bearish sentiment has been steering the ship lately.
The price continues to trade below key moving averages, such as the 25 EMA (0.00001371) and 99 EMA (0.00001621), showing that selling pressure is still dominating. However, all hope is not lostâthere are signs of momentum building for a potential turnaround! đ
đ Key Indicators:
MACD (Moving Average Convergence Divergence):
The MACD lines are convergingâthis signals that bearish momentum is cooling off. If we see a bullish crossover, SHIB could be in for a reversal. Watch out! đ
RSI:
The RSI hovers at 45.96, showing that SHIB is still in neutral to mildly bearish territory. A dip towards 30 could indicate itâs oversold, and thatâs when opportunities might arise! đĄ
Volume:
The recent decline in volume suggests the market is in wait-and-see mode. A volume spike could indicate that the next big move is comingâwhether bullish đ or bearish đ».
đ„ Key Levels:
Resistance: First resistance is at 0.00001350, with a stronger ceiling around 0.00001500.
Support: Immediate support sits at 0.00001200, with a solid base at 0.00001000.
đŻ Trading Strategy:
đȘ Entry Point: Consider entering near 0.00001200, especially if the RSI dips into oversold territory and the MACD turns bullish!
đ Exit Point: Target the 0.00001500 resistance level. Scaling out here can help lock in profits as SHIB approaches key barriers.
â Stop Loss: Keep a stop loss at 0.00001000 to protect your downside in case the bearish trend continues.
đź Summary:
While SHIB is still in a bearish trend, signs of a potential reversal are emerging! Keep an eye on the MACD crossover and RSI dip to spot your next move. Donât forget to watch volume spikes to confirm direction. đ
đŹ Whatâs your game plan for SHIB? Are you ready to ride the wave? đ
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