Shib
This image is a price chart of the SHIB/USDT trading pair on a daily timeframe (1D) from the Binance exchange, sourced from the TradingView platform. Let’s break down the analysis of this chart:
1. Chart Overview
• Trading Pair: SHIB/USDT
• Timeframe: Daily (1D)
• Current Price: 0.00001296 USD
• Price Change: +0.00000151 USD (+1.7%)
• Date Range: The chart covers December 2024 to September 2025.
• Indicator: RSI (Relative Strength Index) is displayed at the bottom of the chart.
2. Technical Analysis
a) Support and Resistance Levels
• Demand Zone: Around 0.00001296 USD (marked with the horizontal “DEMAND” line). This level indicates a zone where the price has previously bounced back up and is now acting as support.
• Supply Zone: Around 0.00001800 USD (marked with the horizontal “SUPPLY” line). This level represents resistance where the price has faced selling pressure in the past.
• Point of Interest (POI): Positioned between these two levels, indicating a potential equilibrium zone or a pivot point for price action.
b) Price Trend
• Past Trend: From December 2024 to early May 2025, the price was in a general downtrend, reacting multiple times to the demand zone.
• Break Below Demand: In early May 2025, the price broke below the demand zone, dropping to around 0.00001050 USD.
• Price Recovery: Starting mid-June 2025, the price began to rise and has now returned to the demand zone (0.00001296 USD). This recovery could indicate buyer strength at this level.
• Next Target: If the price can move upward from the demand zone, the next target would be the supply zone at 0.00001800 USD.
c) RSI Indicator
• Current RSI Status: The RSI is currently around 50, indicating a neutral state (neither overbought nor oversold).
• RSI Trend: Since early June 2025, the RSI has been trending upward alongside the price increase, suggesting growing bullish momentum.
• Key RSI Levels: If the RSI rises above 70, it may enter overbought territory, potentially signaling a price reversal. Conversely, a drop below 30 could indicate weakness and a possible further decline.
d) Price Patterns
• Double Bottom Pattern: In late May 2025 and early June 2025, the price hit the 0.00001050 USD level twice before rising. This pattern can signal a bullish reversal.
• Break of Downtrend Line: In June 2025, the price broke above a descending trendline (drawn from previous highs) and has since moved upward. This breakout confirms a shift to a bullish trend.
3. Order Block Analysis
• Buy Signal: At the 0.00001296 USD level, a buy signal is displayed. This suggests that this level is identified as a good entry point for buying.
• Sell Signal: There’s also a sell signal at the same 0.00001296 USD level. This might indicate market indecision at this level, but given the recent upward movement, the buy signal carries more weight.
4. Possible Scenarios
a) Bullish Scenario
• If the price can hold the demand zone (0.00001296 USD) and move upward, the next target would be the supply zone at 0.00001800 USD.
• Breaking the supply zone could push the price to higher levels (e.g., 0.00002000 USD or more).
• The rising RSI and the break of the downtrend line support this scenario.
b) Bearish Scenario
• If the price fails to hold the demand zone and falls below 0.00001296 USD, it could head toward the next support level at 0.00001050 USD.
• A neutral or declining RSI and increased selling pressure could confirm this scenario.
5. Trading Suggestion
• Entry Point: Given the buy signal at 0.00001296 USD and the recent upward movement, entering a long (buy) position could be reasonable.
• Take Profit: The supply zone at 0.00001800 USD could be the first target (around 39% profit).
• Stop Loss: Below 0.00001050 USD (around 19% loss) for risk management.
• **Riskവ: Risk-to-Reward Ratio: This trade offers a risk-to-reward ratio of about 1:2, which is acceptable.
6. Conclusion
The price of SHIB/USDT is currently at a critical juncture. The return to the demand zone and the break of the downtrend line suggest potential for a continued uptrend, but the price needs to consolidate above 0.00001296 USD to confirm this trend. The RSI is neutral and requires further movement to confirm bullish or bearish momentum. Traders should proceed with proper risk management and monitor price action at key levels.
If you need further analysis or additional information, I’d be happy to help!
