Technical Analysis and Trade signals with three target levels for $SHIB

/USDT.🚀🔥

1. Current Price Positioning:

SHIB/USDT is trading at $0.00002786, slightly above the Bollinger upper band ($0.00002697) and SAR level ($0.00002416). This suggests a bullish momentum, but the price could be reaching an overbought level.

Given the recent surge (+44.5%), we may anticipate some consolidation or minor pullback before further upward movement, especially as the price edges beyond the Bollinger Bands.

2. Support and Resistance Levels:

Support: Closest support at the Bollinger middle band ($0.00002404) and Parabolic SAR ($0.00002416).

Resistance: Previous high of $0.00002795 could serve as an immediate resistance.

3. Targets: Based on current levels and momentum, here are three potential targets:

Target 1: $0.00002850

This level is above the recent high, leveraging the current momentum. If SHIB/USDT breaks and holds above $0.00002795, reaching this target could confirm continued bullish sentiment.

Target 2: $0.00003000

A psychologically significant level and a strong round number, likely to attract selling interest if reached.

Target 3: $0.00003200

If bullish momentum holds, this level would represent a considerable gain and could be the upper resistance in a breakout scenario.

4. Stop Loss:

Consider a stop loss below the SAR and Bollinger middle band, around $0.00002400, to manage risk if the trend reverses.

Signal:

Watch for consolidation near $0.00002795 before entry, or await a breakout above $0.00002795 with high trading volume.

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