Binance Technical Analysis: $SHIB /USDT
Current Price: $0.00002131 (-2.25%)
Timeframe: 30m chart
Analysis Overview:
$SHIB /USDT is currently in a downtrend, with bearish momentum dominating the session. The price has broken below key intraday support levels, and traders should remain cautious while keeping an eye on potential rebound points.
Targets
1. Immediate Resistance (Target 1): $0.00002160
The nearest resistance level based on the recent high.
A breakout above this level could indicate a short-term recovery.
2. Mid-Term Resistance (Target 2): $0.00002200
A psychological barrier and an area of previous price consolidation.
Sustained movement above this level might attract further buying interest.
3. Extended Bullish Target (Target 3): $0.00002240
A key resistance level tested during the past sessions.
Reaching this level would confirm a shift towards a bullish trajectory.
Risk Management
Support Level: $0.00002100
A critical support zone that could trigger a reversal if tested.
Breaching this level may lead to extended bearish pressure.
Stop-Loss Suggestion: $0.00002080 to minimize potential losses.
Trading Insights:
Short-Term Opportunity: Look for a breakout above $0.00002160 to target $0.00002200.
Long-Term Opportunity: Sustained trading above $0.00002200 opens the path toward $0.00002240.
Advice: Secure partial profits at $0.00002160 and adjust stop-loss to $0.00002130 to lock in gains while managing risks effectively.
