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Tuesday, May 6, 2025
May 06, 2025 at 12:28AM Lingrid | SHIBUSDT long OPPORTUNITY from the SUPPORT
Lingrid | SHIBUSDT long OPPORTUNITY from the SUPPORT
SHIB / TetherUS BINANCE:SHIBUSDT
SHIBUSDT is currently trading inside a downward wedge pattern, typically a bullish formation. After reaching the resistance zone around 0.00001567 and forming a lower high, the price retraced sharply. It is now approaching a critical support area near 0.00001186, aligned with the wedge base and previous reaction zones. Bullish traders are watching for a breakout to the upside, while bearish pressure remains within the channel.
📉Key Levels to Watch
- Support zone: 0.00001186 (wedge base and historic demand)
- Breakout target: 0.00001390 (near-term rally cap)
- Invalidation level: below 0.00001028
- A failure to hold above the wedge support at 0.00001186 could trigger a drop toward the March lows at 0.00001028.
- Bearish momentum remains strong, and multiple lower highs signal seller dominance unless invalidated.
- False breakouts within wedge patterns are common—confirmation is needed before reacting.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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