DO NOT FORGET USING A STOP LOSS
Warning:
This is just a suggestion and we do not guarantee profits. We advise you analyze the chart before opening any position.
I hope you are always profitable
SHIBAUSDT has crossed accumulation period as we predicted before and went up from exact point of entry. Awesome now it first target is shown in the graph.
We publish precise and compact information after careful consideration which give you quick glimpse for comparative analysis. Always do your own analysis before taking any trade. Our aim is to deliver simple and compact information which can be used by beginner to give them brief understanding of trades without any complexity. if you have any question or want to ask about analysis of other pairs or you have any confusion about analysis then feel free to ask us. Don't forget to support us by sharing our ideas and hit like and subscribe button. You can support us through coins donation for more frequent signals.
Current Situation:
Shiba Inu has entered an accumulation zone, indicating a period of consolidation where buyers and sellers are reaching an equilibrium.
Despite facing resistance just above this zone, Shiba has managed to regain some of its strength.
The price is currently hovering around its 10-day moving average, a key technical indicator.
Potential Moves:
Breaking above the Trendline (TT Line): This could lead to a downward channel breakout, potentially lowering the price range. ⬇️
Breaking above the MACD Signal Line (Green Line): This could signal a bullish breakout, leading to a potential price increase. ⬆️
Breaking below the RSI Support Line (Blue Line): This could indicate a loss of momentum, potentially leading to a price decline. ⬇️
Additional Observations:
Rising Trading Volume: The recent increase in trading volume suggests heightened volatility in the near future.
Potential for Uptrend: Based on the rising volume, there's a chance for Shiba to climb toward the next weekly resistance level if it moves.
Overall:
From a technical analysis standpoint, Shiba Inu is currently in a consolidation phase. The direction of the price will depend on whether it breaks above or below key technical levels like the TT Line, MACD Signal Line, and RSI Support Line. The increased trading volume suggests a potential for significant price movement in the coming days.
This analysis is for informational purposes only and should not be considered investment advice. Please conduct your own due diligence before making any investment decisions
Hello traders, I have determined the formation target on the chart. I wish everyone success.
Like and comment if you find value in our analysis.
Feel free to post your ideas and questions at the comments section.
Good luck
Wish you many pips
PS: Thank you very much that you support me with your likes and Comments
If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.
