Hello, this is Greedy All-Day.
Today’s analysis focuses on Shiba Inu (SHIB).
Daily Chart Analysis
The daily chart shows that Shiba Inu recently broke below its short-term ascending trendline, which began in August 2024, within the blue box zone.
After the breakdown, the price formed a long lower wick and bounced back. This rebound occurred near the green box support zone, although slightly above its previous lows, indicating that the green box has strong support.
Key Observations:
Shiba Inu now appears to have entered the yellow box supply zone.
Although it is currently positioned near the top of this zone, if a strong rebound does not occur, the price is likely to continue falling toward the bottom of the yellow box.
Critical Level to Watch:
2056 Satoshi (white box)
This level has not been tested since the sharp decline earlier.
If the price fails to hold this level, there’s a high probability of another test of the green box support zone.
Should the green box support also fail, the price is expected to drop to the bottom of the yellow box zone.
For a Bullish Reversal:
The price needs to break above the red box lower boundary to confirm a potential rebound. Further explanation is provided in the next section.
Ichimoku Cloud and Moving Averages Analysis
To trigger a trend reversal, Shiba Inu must enter the red box supply zone, with the specific level being a 2480 Satoshi breakout.
Key Points for Reversal:
A break above 2480 Satoshi is critical to enter the upper portion of the red box.
This breakout would also mark an entry into the Ichimoku Cloud, currently acting as resistance.
Additionally, it would reverse the direction of the death cross in the moving averages, allowing for a potential bullish shift.
Until Shiba Inu stabilizes above 2480 Satoshi, it’s advisable to remain cautious with buy positions.
Conclusion
Shiba Inu is at a pivotal moment:
Bullish Case: A 2480 Satoshi breakout would mark a trend reversal and provide a stronger bullish signal.
Bearish Case: Failure to hold 2056 Satoshi could lead to further downside, potentially testing the green box and, if that fails, the lower boundary of the yellow box.
At this time, remaining patient and observing key levels is the safer approach. Let’s trade wisely and prepare for both scenarios. 🚀
Today’s analysis focuses on Shiba Inu (SHIB).
Daily Chart Analysis
The daily chart shows that Shiba Inu recently broke below its short-term ascending trendline, which began in August 2024, within the blue box zone.
After the breakdown, the price formed a long lower wick and bounced back. This rebound occurred near the green box support zone, although slightly above its previous lows, indicating that the green box has strong support.
Key Observations:
Shiba Inu now appears to have entered the yellow box supply zone.
Although it is currently positioned near the top of this zone, if a strong rebound does not occur, the price is likely to continue falling toward the bottom of the yellow box.
Critical Level to Watch:
2056 Satoshi (white box)
This level has not been tested since the sharp decline earlier.
If the price fails to hold this level, there’s a high probability of another test of the green box support zone.
Should the green box support also fail, the price is expected to drop to the bottom of the yellow box zone.
For a Bullish Reversal:
The price needs to break above the red box lower boundary to confirm a potential rebound. Further explanation is provided in the next section.
Ichimoku Cloud and Moving Averages Analysis
To trigger a trend reversal, Shiba Inu must enter the red box supply zone, with the specific level being a 2480 Satoshi breakout.
Key Points for Reversal:
A break above 2480 Satoshi is critical to enter the upper portion of the red box.
This breakout would also mark an entry into the Ichimoku Cloud, currently acting as resistance.
Additionally, it would reverse the direction of the death cross in the moving averages, allowing for a potential bullish shift.
Until Shiba Inu stabilizes above 2480 Satoshi, it’s advisable to remain cautious with buy positions.
Conclusion
Shiba Inu is at a pivotal moment:
Bullish Case: A 2480 Satoshi breakout would mark a trend reversal and provide a stronger bullish signal.
Bearish Case: Failure to hold 2056 Satoshi could lead to further downside, potentially testing the green box and, if that fails, the lower boundary of the yellow box.
At this time, remaining patient and observing key levels is the safer approach. Let’s trade wisely and prepare for both scenarios. 🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.