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Private Trading Information
In SHIB/USD
Current price: 0.00001825 USDT
24-hour change: -1.88% (Decline)
Highest price in 24 hours: 0.00001872
Lowest price in 24 hours: 0.00001759
24-hour trading volume: 3.19 trillion SHIB (57.58 million USDT)
Relative Strength Index (RSI): It is showing at 53.56 (close to the balance between buying and selling pressure).
Ratio between buyers and sellers: 50.07% buy vs. 49.93% sell.
Technical analysis:
General Price Trend: The price appears to be moving within a sideways range with slight highs and lows.
RSI: The current RSI level (53.56) indicates that the market is in a near neutral position, not in an overbought (above 70) or oversold (below 30) zone.
Candlestick Action: There are slight spikes after the bounce from the 0.00001605 level a few days ago which may indicate a volatility phase.
It can be seen that liquidity is high with a huge trading volume (3.19 trillion SHIB), reflecting the interest of traders, although the price is experiencing slight selling pressure with a 1.88% decline.
1. Ascending channel (orange lines):
The price is moving within an ascending channel which indicates that the current trend is bullish.
If the price continues to trade within the channel, we may see more.
From heights around 0.00001900 and possibly 0.00002000.
(Blue line):
This line represents a potential horizontal resistance level. The price may have difficulty breaking through this level, and if it breaks through it may signal further upside.
Bearish Channel Breakout: Notice that there were some candles that broke out of the channel from below, but the price came back in. This indicates that there was selling pressure but it was not strong enough to completely change the trend.
Watch point: If the price continues to respect the channel, the next target could be towards the resistance at 0.00001900. However, if the channel is broken from below, the price may return to test the levels of 0.00001750 or lower.
This is not investment advice, but rather a personal opinion that may be right or wrong. We welcome everyone. Thank you.
