$SHIB SHIB/USDT Analysis: Is Shiba Inu Bottoming Out? 🐕🚀
Shiba Inu $SHIB Monthly (1M) chart is looking at a critical stage. The price is currently in a consolidation phase, which is generally seen before a major move.
Technical Outlook:
Current Price: $0.00000777
Support Zone: SHIB recently touched a low of $0.00000661, which is proving to be a strong support area.
Major Resistance: The first major resistance is at MA(7) (yellow line) which is around $0.00000993. A closing above this will signal for the bulls.
Long-term Target: If the market trend changes, then the next big target for $SHIB could be $0.00001531 (MA-25).
Market Sentiment:
Consolidation: The price has been consolidating downwards for the past few months. Whenever there is an increase in volume, a "breakout" can be expected.
Volume Check: Currently, the monthly volume is low (8.38M USDT), which indicates that sellers are exhausted and buyers are waiting to enter.
Historical High: We have seen that SHIB has reached up to $0.00004567, so the risk/reward ratio at the current price is quite attractive.
Trading Strategy:
Accumulation: Accumulating at this price ($0.00000777) could be a good strategy for those who want to hold long-term.
Caution: As long as the price does not sustain above $0.00001000, sideways movement may occur in the market.
Final Verdict: SHIB is currently in an "accumulation zone." Those who are patient could see significant profits.
Are you buying SHIB now or waiting for further dips? Comment below! 👇
#SHIB #ShibaInu #MemeCoin #CryptoAnalysis #BinanceSquare #Altcoins
Shiba Inu $SHIB Monthly (1M) chart is looking at a critical stage. The price is currently in a consolidation phase, which is generally seen before a major move.
Technical Outlook:
Current Price: $0.00000777
Support Zone: SHIB recently touched a low of $0.00000661, which is proving to be a strong support area.
Major Resistance: The first major resistance is at MA(7) (yellow line) which is around $0.00000993. A closing above this will signal for the bulls.
Long-term Target: If the market trend changes, then the next big target for $SHIB could be $0.00001531 (MA-25).
Market Sentiment:
Consolidation: The price has been consolidating downwards for the past few months. Whenever there is an increase in volume, a "breakout" can be expected.
Volume Check: Currently, the monthly volume is low (8.38M USDT), which indicates that sellers are exhausted and buyers are waiting to enter.
Historical High: We have seen that SHIB has reached up to $0.00004567, so the risk/reward ratio at the current price is quite attractive.
Trading Strategy:
Accumulation: Accumulating at this price ($0.00000777) could be a good strategy for those who want to hold long-term.
Caution: As long as the price does not sustain above $0.00001000, sideways movement may occur in the market.
Final Verdict: SHIB is currently in an "accumulation zone." Those who are patient could see significant profits.
Are you buying SHIB now or waiting for further dips? Comment below! 👇
#SHIB #ShibaInu #MemeCoin #CryptoAnalysis #BinanceSquare #Altcoins