SHIB / TetherUSLong
SHIB/USDT Analysis:
SHIB is currently gaining momentum within a long-term symmetrical triangle pattern. This consolidation phase suggests a potential breakout, and if SHIB stays above key support levels and bounces off strongly, it could retest its all-time high.
SHIB is close to the apex of the triangle, a crucial point where a decisive move is expected.
Strong upward momentum could target higher levels.
Immediate support is near 0.00002150.
Critical support at 0.00001090 is marked by the dashed red line. It is crucial to stay above this level for bullish continuation.
First Target: 0.00003000
Second Target: 0.00005000
Based on sustained momentum, potentially a retest of levels near 0.00009000.
The symmetrical triangle signals a period of indecision, but a breakout could lead to substantial profits.
Monitor volume closely to confirm the strength of the breakout, while also keeping an eye on key levels for invalidation.
If the bullish momentum sustains, SHIB has a strong chance of retesting its ATH in the upcoming rally.
DYOR, NFA
@Peter_CSAdmin
SHIB is close to the apex of the triangle, a crucial point where a decisive move is expected.
Strong upward momentum could target higher levels.
Immediate support is near 0.00002150.
Critical support at 0.00001090 is marked by the dashed red line. It is crucial to stay above this level for bullish continuation.
First Target: 0.00003000
Second Target: 0.00005000
Based on sustained momentum, potentially a retest of levels near 0.00009000.
The symmetrical triangle signals a period of indecision, but a breakout could lead to substantial profits.
Monitor volume closely to confirm the strength of the breakout, while also keeping an eye on key levels for invalidation.
If the bullish momentum sustains, SHIB has a strong chance of retesting its ATH in the upcoming rally.
DYOR, NFA
@Peter_CSAdmin
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Related publications
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.