$SHIB ๐๐๐น๐น๐ถ๐๐ต ๐๐ผ๐ผ๐ป?
Based on the SHIB/USDT chart, here are some key observations:1. Price: The current price is at 0.00001753, and it's showing a slight downward movement of -1.07%.2. Support and Resistance:
The price has touched a recent low around 0.00001706, and the recent high is 0.00001797. The next major resistance level appears to be around 0.00001824, which it attempted to break before pulling back.3. Volume:
The volume (2.21T SHIB) suggests a decent trading activity, but it's important to monitor volume spikes that can indicate potential strong moves.
4. RSI (Relative Strength Index): The RSI at 34.49 indicates that the token is nearing the oversold region (typically below 30), which could imply a potential reversal upwards soon.5. Stochastic RSI:
It is showing a value of 6.11, which is quite low and signals a strong oversold condition, reinforcing the possibility of a price rebound.Possible Next Move:If the RSI and stochastic levels continue to hover in the oversold region, a bounce from the current price level is likely, with a potential retest of the 0.00001797 resistance.
If it breaks through the 0.00001706 support, the price might experience a further decline toward 0.00001078, a previous low point.It would be wise to watch for increased buying pressure or a breakout of key resistance for confirmation of a bullish move.
