Shiba Inu ($SHIB ) is currently trading at $0.00001818, experiencing a slight decline of 1.94% in the past 24 hours.
Technical Analysis:
Support Levels:
The immediate support level for SHIB is at $0.00001794. If the price breaks below this level, it could face further downside pressure.
A stronger support level exists around $0.00001749. A breach of this level could indicate a more significant bearish trend.
Resistance Levels:
The first resistance level lies at $0.00001862. If $SHIB manages to break above this level, it could signal a potential reversal and upward momentum.
A stronger resistance level is situated at $0.00001965. A sustained break above this level could lead to a more significant bullish trend.
Technical Indicators:
Moving Averages (MA): The 7-day and 25-day moving averages are currently above the price, indicating a short-term bearish trend. However, the 99-day moving average is below the price, suggesting a longer-term bullish trend.
Relative Strength Index (RSI): The RSI is currently below 50, indicating that SHIB is oversold. This could suggest potential buying opportunities.
Bollinger Bands: The price is currently trading below the upper Bollinger Band, indicating a potential bearish divergence.
Entry Signal:
A potential entry signal could arise if the price rebounds from the $0.00001794 support level and shows signs of bullish momentum, such as a reversal candle pattern or a break above the 7-day moving average. However, it's important to exercise caution and consider other factors before entering a trade.#ScrollOnBinance #UptoberBTC70K? #XRPDonationsUSElections #APESurge #Write2Earn!