Overall Trend:
SHIB/USDT is currently in a consolidation phase after a recent upward movement, with potential for further gains.
Support and Resistance Levels:
Immediate Support: Around $0.00002200
Immediate Resistance: Around $0.00002800
A breakout above or below these levels could indicate the next directional move.
Technical Indicators:
Moving Average (MA 200): The price is near the 200-hour moving average, suggesting a neutral trend.
Relative Strength Index (RSI): At 29.10, the RSI indicates oversold conditions, suggesting potential for a reversal.
MACD: The MACD line is slightly below the signal line, indicating weak bearish momentum.
Cluster and Zone Analysis:
Significant price activity is observed near $0.00002500–$0.00002800, representing short-term resistance.
Lower accumulation zones are around $0.00002200, indicating buying interest
SHIB/USDT is in a consolidation phase with potential for a bullish reversal due to oversold RSI conditions. Traders should watch for a breakout or breakdown from the $0.00002200–$0.00002800 range for confirmation of the next trend. Maintaining a cautious approach with appropriate stop-loss levels is recommended in this range-bound market.
